One of the investors of Tinian Dynasty Hotel & Casino wants to take over the troubled Northern Marianas resort and reopen it before the end of the year.
Fresh from meeting with Chinese Strategic Holdings executives during a trip to Macau recently, Tinian Mayor Joey San Nicolas says the company is finalising negotiations for taking over the resort.
Mega Stars Overseas and Hong Kong Entertainment own Dynasty and have borrowed money from Chinese Strategic.
Now, Chinese Strategic wants to turn that loan into equity to buy Dynasty.
The casino's operations have been closed since September 2015, while the hotel has been shuttered since March.
It's a major source of revenue for the government of Tinian and the island's largest employer.