The acting governor of the Northern Marianas, Victor Hocog, says the territory will eventually tax the casino operations of Imperial Pacific.
The Imperial Pacific Resort on Saipan. Photo: Supplied./ Mark Rabago
He said the CNMI would impose a casino tax on Imperial Pacific once its resort developments were in full operation.
A bill is pending in the House of Representatives that would impose a 5-percent tax on all gaming revenues in the Commonwealth.
Mr Hocog said the CNMI government hopes the casino would generate the revenue that they were expecting - income that would benefit the people of the CNMI.
Imperial Pacific is currently paying $US15 million a year for having the exclusive rights to set up casino operations on Saipan, but as of now there are no taxes on casino profits in the territory's law books.
Extension
The company building the Imperial Pacific Resort has been given a 16-month extension to complete its construction.
The Hong Kong-based company plans to spend $US550 million on the 400-room project on Saipan which was to be finished by August.
It cited the impact of Typhoon Soudelor, difficulty in shipping materials to Saipan, and dearth of workers as reasons for the delay.
The company has also received an extension on its operation of Best Sunshine Live, a temporary casino training facility.
