Imperial Pacific doubles its budget for their casino in Saipan
The Imperial Pacific International Holdings Group, which is the parent company of Best Sunshine, obtained a gaming license issued by the regulatory authority of Saipan.
They have now decided to increase the budget for the creation of its gambling complex on the island in the Pacific Ocean.
The company has doubled the amount originally expected for the development of its project which has now reached $7.1 billion.
A construction in 5 stages
On Wednesday, September 24, the Imperial Pacific International Holdings Group announced an increase in the budget of its complex that is going to open on the island of Saipan.
Development is planned in five distinct stages, and the establishment is scheduled to open in 2020, featuring 4,252 rooms, 300 villas and a casino with 1,600 gaming tables and 3,500 slot machines.
However, the first phase is to be inaugurated in 2016 with the first 50 hotel rooms but also a gaming room with 300 gaming tables and 500 slot machines.
The most expensive casino in the world
With a budget of $7.1 billion, the complex will become the world’s most expensive casino-hotel, just behind is the Marina Bay Sands in Singapore in which the Las Vegas Sands Group has invested a whopping $5.5 billion.
The competing resorts that are based in Macau, Atlantic City or Las Vegas have cost an average of only $4 billion.
In addition to its significant investment, the Imperial Pacific International Holdings group has also pledged to add $20 million to fund the community each year.
To complete with Macau
Located in the western part of the Pacific Ocean, the island of Saipan is a popular tourist destination that sees more and more new innovative hotels.
The Imperial Pacific International Holdings group wanted to be part of this growing market and try to attract VIP players from China and from all over South East Asia.
Their attempts to compete with Macao have slowed down in recent months.
Last month, its subsidiary Best Sunshine however, managed to obtain a casino license that was issued by the regulatory authority of Saipan, and is valid for 25 years.
The casino with the largest budget in the world is now going to open between 2016 and 2020.
