Saipan now has a new casino law, but it left much to be desired.
Acting Gov. Ralph Torres finally signed the controversial bill last week, but with reservations. Marianas Variety reported the governor agreed with the House Bill 19-95’s—now Public Law 19-24—purpose of creating a budget for the Commonwealth Casino Commission, so that it will be “funded by the licensee to do the all-important work of regulating the gaming industry on Saipan.”
However, Torres believes the legislation needs “additional legislative work,” which is why he rejected several of its provisions, including the non-refundable tax credit for casino investor Best Sunshine International Ltd.
“The cost of regulating casino gaming activities on Saipan are to be paid in full by the licensee and I am not convinced there are good reasons to grant tax relief for this purpose,” the governor said, according to the news outlet.