The Chinese continue to expand into the casino world. This is the Saipan Jinghua Investment group which is considering the construction of a casino in the Commonwealth of the Mariana Islands, more precisely in Tinian. This project does not only aim to invest in the territory but also to contribute to its good development. Overview of this new project.
The Content Of This Project
The realization of this project will allow Tinian to welcome its second casino after Tynian Dynasty Hotel and Casino, which will soon be the subject of a redevelopment. According to the spokesperson of the Saipan Jinghuan Investment group, David C. Sablan, the future hotel-casino will be built on a plot of 300 hectares and which may be located in Pina, Tinian.
This will be a complex that will include a 500-room hotel and a casino. Still according to this same source, the group is now in the midst of a study and planning phase. Full details will not be released until next year. The total expenditure has already been quantified, with an estimated amount of $ 4 billion.
The Commonwealth of the Mariana Islands is made up of 3 islands which are: Rota, Saipan and Tinian. Agreements have already been finalized on the two islands. Authorities have also licensed a group from Hong Kong called Best Sunshine. It now holds the monopoly and exclusivity on this island. This project is underway and will cost the group $ 7 billion.
As for Rota, the island has already had its establishment in 2011. On Tinian, a casino has also opened. A casino hotel which is currently being reorganized. However, two of these three licenses were withdrawn. It is this retraction on the part of the authorities that pushed the Saipan group to submit their project to build a casino. Today the CommonWealth only has one casino.
The Race For The Commonwealth Of The Mariana Islands
The battle will be rather tough because the Saipan Jinghuan Investment group is not the only one to want to acquire its place in Tinian. Several large groups have already expressed their desire to build their casinos on the premises. However, unlike the Chinese group, the investment is quite low. Bridge Investment Group, for example, only plans to invest 300 million, which is a far cry from that of Saipan. Besides this American group, there is also the Mega Stars Overseas. But Saipan’s major competitor is surely City Groupe. Their project is quite huge because it intends to build 2 casinos, with 800 apartments and two large hotels and the bill can be quite high. However, this major project is not planned for so soon and this may work in favor of the Chinese group.