Saipan casino operator Imperial Pacific International Holdings (IPI) is suing a Las Vegas gambler over an unpaid casino marker.
On Wednesday, the Saipan Tribune reported that IPI had filed a lawsuit against Las Vegas resident Patrick Sun for unpaid gambling-related loans totaling $747k. The company has requested a jury trial and is seeking payment of the principal plus interest (24% per annum), costs and fees.
According to the lawsuit, Sun visited IPI’s temporary casino Best Sunshine Live in June 2017, originally establishing a $1m line of credit at the casino before requesting and receiving an increase to $2m. Sun left Saipan on June 9, 2017 still owing the casino $447k.
Sun returned to Saipan in early July 2017, just days before IPI’s new permanent gaming venue was to open, and borrowed an additional $300k from the company. Sun returned home on July 5, with his total outstanding sum now $747k, and ultimately defaulted on both loans.