Saipan casino operator Imperial Pacific International is closer to securing a land lease for its Mariana Resort and Spa development, the Department of Public Lands has said.
The letter of intent, sent by the DPL last week, came with a number of conditions, which include a project timetable and the ability and authority for the DPL to vet project financing.
Proposals for the land were invited last year, amid claims from Kan Pacific that, by calling for proposals, the DPL had breached its contract with the resort owner.
However, the casino and Kan Pacific brokered a deal in December, which would allow Best Sunshine International to take over the remaining term on a lease held by Kan Pacific, while continuing to operate Mariana Resort and Spa for at least a year.
Source: Asia Gaming Brief
