Saipan casino operator Imperial Pacific International Holdings (IPI) continues to struggle with the construction of its US$7 billion integrated resort, and is likely to miss its August 31 deadline.
The Hong Kong-listed casino operator have asked the Commonwealth Casino Commission (CCC) to extend the time frame for the completion of Imperial Pacific Resort until the end of December 2018, according to the Saipan Tribune report.
In a meeting with the CCC members on Thursday, IPI Vice President for Construction Eric Poon conceded that the casino operator may not be able to finish the construction of Imperial Palace by the end of August. Currently, the site is only 68 percent complete, according to the casino operator.
Failure of IPI to finish the construction on August 31 would mean another amendment of the casino operator’s license agreement. CCC chair Juan Sablan pointed out that it will be the sixth amendment to the license agreement if IPI misses the deadline.