HKE says Tinian Dynasty could close by end of September

Tinian Dynasty owner Hong Kong Entertainment (Overseas) Investments Ltd. announced that the closure of its casino could happen before the end of the month, citing low tourist arrivals and negative cash flow, according to local media.

“It is with great regret that we must inform you that complete closure of the Tinian Dynasty Hotel & Casino is imminent. Insufficient guest arrival and negative cash flow has made it impossible to keep the property operational. All of our remaining operating resources will soon be exhausted,” HKE Chairman Wai Chan said in a letter to Tinian’s mayor.

Chan told Mayor Joey Patrick San Nicolas  that they did not anticipate the losses suffered in the wake of Typhoon Soudelor.

“We do not have the necessary capital resources of business revenue to sustain the hotel. We are currently operating at a significant loss and we cannot afford to do so any longer. Our operating funds will be exhausted in a matter of weeks. We now anticipate that the hotel will be closed before end of September,” said Chan.

Mayor San Nicolas said that HKE is still waiting for approval from Tinian’s gaming commission for the new investor, Tinian Entertainment Co, adding that until then the effect of the casino’s closure will be felt by the local community and employment.

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