5 Feb 2009

Tinian casino investors in CNMI affected by Federalization

9:16 am on 5 February 2009

Placing the Commonwealth of the Northern Mariana's immigration under federal control by June the 1st will affect the operation of the Tinian Dynasty Hotel and Casino and the business strategies of three other investors.

These investors are proposing to build a total of at least 540 million US dollars worth of casino resort projects according to the Tinian Casino Gaming Control Commission.

The Commission chair Francisco Borja told the Saipan Tribune that it is "unfortunate" that Bridge Investment Group LLC is re-evaluating its 40 million to 50 million US dollar casino and condominiums project on the island because of federalization.

The U.S. Department of Homeland Security's proposed regulations require Chinese and Russian tourists to secure a U.S. visa to enter the CNMI by June 1, 2009, unless extended.

Tinian's casino industry relies heavily on the Chinese market.