Dynasty owner to submit plan prior to casino reopening

News of Tinian Dynasty closing down casino operations temporarily was confirmed through a meeting held between Spectrum gaming and reps from Hong Kong entertainment. The closure was as a result of the damage inflicted by Typhoon Soudelor after it hit Saipan on the second of August. The typhoon left hundreds of property destroyed and turned the island into a postwar zone and also killing off power and water lines. Saipan declared a state of extreme disaster and business flopped due the devastation caused by the typhoon.

The result was a decline in tourism that has left Saipan hoping and praying for external help. This brought the casino business to its knees. The typhoon has piloted the deferral of charter flights from China and limited Honk Kong Entertainment the prospect of bringing high valued gaming customers to Dynasty and its encompassed casinos.
China Strategic Holdings Limited has since then bequeathed Tinian gaming a transient notice requesting for the short-term termination of regular casino operations at the premises as of August 14TH for a period, not more than three weeks.San Nicolas, the towns mayor, went ahead and arranged a meeting with the Dynasty officials over the results closure of the casino would have, especially to the employees. Chris Bishop, the acting casino and hotel manager, assured the mayor, employees would have free meals and housing for the short time cessation and would also get one period pay.

Tinian Entertainment expressed its desire to transfer ownership of the enterprise and has reached a memorandum of understanding between Tinian Casino gaming control commission and HKE. Tinian entertainment paid the gaming commission a 200000 dollar fee on the 1st of July to acquire a casino licence. HKE expressed its opinion and pointed out its reluctance to re-open the casino. The mayor and the island residents are hopeful that the case will find a new owner willing to bring the place to its former glory.

The mayor further stated that if the casino opens again, it will probably be under a new investor and hinted the possibility of extension of the short-term closure. CHSL pointed out that any pursuant to the gaming commission directive must provide a plan preceding the reopening of the casino to the commission. Other mandatory items to be submitted include accounting information, controls and further compliance issues.

Tinian entertainments application has not yet been considered complete, and a pro-term casino authorization has yet to be exempted by the commission. Dynasty has been the biggest private proprietor for Tinian since its inception on 1998. It has been a major source of revenue for Saipan Island.

Semi-partial of the senior positions at the mayor’s office is backed by taxes remunerated by the casino. The island will be vastly affected by the closure of the casino. How fast the casino will also reopen depends on how much time the Commonwealth Ports Authority need to get the Saipan airport up and running as usual. The closure of the casino has left many, from the island without employment.

The mayor pointed out that the main responsibility and concern will be meeting personnel costs and delivering vital supplementary assistance such as medical referrals. He expressed his concern and hopes that the casinos closure would only be a temporary and not long term and asked those affected to remain patient and considerate of the situation at hand. The casinos closure has impacted greatly on the lives of the island residents. Dynasty employs half of the island’s population making it an important revenue earner. It also adds the advantage of improved tourism that brings with it booming revenues for other local businesses.

Get $1,000 Welcome Bonus at WinPalace Casino!

Submit a Comment