Operator Saipan Imperial Pacific International has experienced a major drop in VIP turnover in February, just one month after hitting a record high, according to a news report from the latest filing of the Honk Kong Stock Exchange.
The company entered the Northern Mariana Islands market a few years ago with plans to build a large casino on the island of Saipan called the Grand Mariana Casino and Hotel Resort, which is scheduled to “soft” launch this March. But in 2015, the group decided to temporarily build the Best Sunshine Live Casino in Garapan town until the big resort opened, which was officially launched in November 2015.
Over the past year, Best Sunshine Live casino became one of the most profitable gambling http://126.96.36.199/ venues with an audited VIP turnover of $ 32.37 billion for 2016. That same year the property saw its (then) biggest VIP turnover in September, when the number hit $ 39.5 billion, or two and a half times more than August 2016. But the most recent figures show that VIP turnover at the casino fell to $ 16.7 billion this February – a big difference when compared to their January figures when the casino generated $ 5.6 billion from its VIPs.
The latest swing turnover comes shortly after doubts were voiced about the casino’s impressive VIP numbers in a long Forbes Asia story. According to David Green, a former Aussie regulator, without GGY (gross gaming revenue) and independent confirmation, the veracity of the VIP numbers being published remains unproven. As such, he wonders whether the report is “confected” to increasing the company’s market value, even though reports say that Honk Kong’s stock has fallen.