Summary: Imperial Pacific Palace Casino on Saipan Gets New Owner Amid Troubled Legacy

The long-closed Imperial Pacific Palace, a once high-flying luxury casino on Saipan in the Northern Mariana Islands, has been sold for $13 million at a bankruptcy auction. The new owner is Team King Investment (CNMI) LLC.

Background:

Originally launched in 2016 by Imperial Pacific International (IPI), the casino quickly gained attention for its VIP gaming volume, once rivaling Macau and Las Vegas.

The resort was meant to be part of a $7 billion mega-project, including 4,000 rooms and ultra-luxury amenities.

In 2017, it reported a staggering $49.5 billion in VIP volume with only 18 tables.

Collapse and Controversy:

Despite its flashy launch, IPI’s reputation spiraled due to:

Labor abuses: Workers claimed they were forced to work 24-hour shifts for little or no pay. The U.S. Department of Labor awarded $5.4 million to victims in 2020.

Financial issues: IPI failed to pay licensing fees, contractors, and even defaulted on lease obligations.

Legal trouble: Discrimination lawsuits and broader allegations of money laundering and shady business practices plagued the operator.