Junket Operator To Build $3 Billion Casino Resort In Saipan

A Macau junket operator investor is planning to construct a $3 billion casino resort on the island of Saipan, a commonwealth of the U.S. and the largest of the Northern Mariana Islands located in the western Pacific Ocean.

Located just five hours by plane from Shanghai, China, the island of Saipan was targeted by Imperial Pacific International Holdings Limited, a major investor in the Henghseng Group junket in Macau. The company hopes to diversify their operations away from Macau’s gambling market, which has shown signs of slowing down over the last year.

These junket operators make their money by luring in big spending high rollers with free rooms, travel and dining. They loan them cash to gamble with in exchange for collateral such as real estate. The Macau casinos then compensate the junket with a commission based on the amount won from the player.

Saipan relies heavily on tourism as the major contributor to the island’s economy. In years past, most of Saipan’s revenue came from garment manufacturing, but some scandals involving improper labor conditions for factory workers caused all of the clothing companies to leave the island.

Saipan, which is just 12 miles long and less than six miles wide, is home to just 48,000 people. Many local residents are opposed to the idea of a casino on the island, but Imperial Pacific has promised roughly $10 million in cash vouchers as compensation.

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