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Imperial Palace Needs Polishing, or TNT
Imperial Palace is, now, a diamond in the rough. IPI promised CNMI legislators and gaming commissioners the moon in exchange for the rights to offer an expanded gaming property, but it has not been able to fulfill any of its goals. A continued lack of fund and ongoing lawsuits are exacerbating the situation, compounded by the casino’s closure since last year because of COVID-19, and it doesn’t appear that any relief is on the horizon. As a result, and after repeatedly showing that it cannot comply with rules and regulations, IPI is at risk of permanently losing its casino license, which has already been suspended.

Should IPI be shown the door, one alternative would be for the CNMI to do nothing. Yeom said during the hearing that the Legislature will have to decide what route to take, adding, “Whether you want to just kill the industry altogether, that’s up to you.” However, the smart thing to do would be to seize all of IPI’s assets in order to settle its debt, and then issue a new license to a more competent entity that knows how to run a multimillion-dollar casino resort.

Representative Vicente Camacho isn’t so sure that this would be the best option. He’s not convinced that a new operator would want to take on a massive task like Imperial Palace and has his own idea of what should happen to the property. He commented in the hearing, “There’s just no solution for that building. …I don’t know if anybody wants to buy that building, it would be too expensive to fix it up. I think we should just kill it, and then we dynamite it” and turn it into a memorial for ancient burials.

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