CNMI court to decide on injunction before July 4: Imperial confirms payouts

    The Superior Court of the Northern Mariana Islands is scheduled to rule this week on whether to grant a preliminary injunction preventing the government from making a decision on granting a casino license on Saipan, according to a Hong Kong Stock Exchange filing from Imperial Pacific International, whose Best Sunshine unit is one of two applicants.
    The company also confirmed its intention to make cash distributions to all Saipan locals should it be granted the casino license.
    The court, which has already placed a temporary restraining order on proceedings, heard the plea for the injunction on July 1st from representatives of Marianas Stars Entertainment, the other applicant, which claims its interests will be irreparably harmed should the decision-making proceedings continue.
    Marianas Stars alleges that “the grant by the Lottery Commission of the CNMI of the Casino Resort Developer License before 1 July 2014 will constitute an illegal act,” the filing said.
    Imperial Pacific, which claims its own interests are being harmed by the proceedings, has been given permission to intervene in the case.
    The company also said it was aware of certain allegations made against it by “the plaintiff,” which were reported in the local news. It said those charges were false and it is seeking advice on the appropriate course of action to be taken.
    The two companies are vying for the right to build a $2 billion integrated resort on Saipan.
    Imperial Pacific confirmed that if it wins the license it has pledged to make a $10 million contribution to the local community, distributing the amount through cash vouchers to all locally born adults.
    It will also pledge $20 million in cash to be distributed within 60 days of commencing construction works on its first hotel in the project and at least $20 million in cash every year after the first full year of operations.