Northern Mariana island of Saipan receives two bids for gambling licensee for potential casino developments.
The government of the Commonwealth of the Northern Mariana Islands (CNMI) reported that they received licenses from Marianas Stars Entertainment Incorporated and Best Sunshine International Limited.
The bids came in last minute, as the window for the applications was about to shut down on Monday, as dictated by Northern Mariana gambling laws.
Two applications came in with bank proof of wire transfer with the required one million dollars apiece, which is also non-refundable for companies applying submission.
The following step in the order of business is a $30 million deposit in an escrow account made by the companies, which is due to be submitted by May 5th.
The nation’s Lottery Commission is yet to decide whether to grant a license to the concerned parties, by the 19th of June.
CNMI approves gambling bill in March
In March of this year, the CNMI Senate approved the legalization of the gambling
on Saipan. Although originally being against it, the Senate President Ralph DLG Torres advocated and supported the bill to grant casino gambling activities.
The government’s debt continues to rise and other expenses are expected to come their way, so time has come for a new direction. Thanks to the recent gambling news, it will help them raise the necessary capital.
He claims that if it were not for the numerous financial problems, he would not support the bill, but rather vote against it like before.