$3 Billion Casino Planned for the Western Pacific island of Saipan

Posted on August 15th, 2014

saipanA backer of one of Macau’s biggest junket operators has revealed that they want to construct  a $3 billion casino resort complex in the western Pacific island of Saipan. Macau’s growth has come off the boil lately, and the junket operators, Hengsheng is attempting to diversify away from the former Portuguese territory in the south-east of China, near Hong Kong, as growth in Macao slowsin 2014 due to a softer Chinese economy and a crackdown on corruption by Beijing.

According to the Huffington Post, Saipan Is The Most Beautiful Place In America You’ve Never Heard Of.

Imperial Pacific International Holdings Limited, which is the investor in the Hengsheng Group junket, said it was looking in Saipan to build an integrated casino resort after being given a 25-year casino licence by the government of the Commonwealth of the Northern Mariana Islands.

The casino would be Saipan’s first. It’s the largest island in the U.S. commonwealth and is 5 hours by plane from Shanghai.

What is a Junket?
Well, junkets lend money to rich gamblers from China, using property and company equity as collateral. The market has become tougher, property prices on the way down and less cash around generally. More than fourteen of the  smaller junkets have been forced to close down and the larger ones are looking to merge to gain economies of scale.

Las Vegas Sands and MGM Resorts are also looking for new locations in Asia.

Topics

Related Posts

Casino Robin Hood 702 Strikes Again in Las Vegas

We love this story- it’s very relevant for this time of the year when we should be giving our fellow man a bunk up instead of blowing money on the roulette wheel- this character, known as the Robin Hood...

Seasons Greetings and Some Thoughts on Casino Music.

Casino Music – Gaming’s Greatest Hits. Well, it’s almost Christmas. If you’re reading this, you shouldn’t be. Turn the computer off and go and spend some time with your family! Or at least stick on the telly and watch...
tipping

How to Tip a Dealer When you are Playing at a Casino

Here´s an interesting question that was posed by one of our lovely readers. When you are at a casino, do you tip the dealer? And if the answer is yes, when and how do you tip the dealer or...