Summary of A Chinese Casino Has Conquered a Piece of America

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Recommendation

Ever heard of the Commonwealth of the Northern Mariana Islands? It’s a remote US territory in the North Pacific Ocean consisting of 14 mostly uninhabited islands. Yet if you are looking for a secluded island paradise to get away from it all, a casino on the main island of Saipan may spoil your tropical dreams. Writing for Bloomberg Businessweek, Matthew Campbell tells the story behind a Chinese gambling operation that is as lucrative as it is brazen. If you would like to find out how a casino operator has been able to flout US law with near impunity, getAbstract highly recommends Campbell’s investigative report.

In this summary, you will learn

  • How the island of Saipan has become the site of an immensely lucrative casino operation, and 
  • How a Chinese casino operator has been able to flout US law with near impunity. 
 

About the Author

Matthew Campbell is a writer for Bloomberg Businessweek

 

Summary

The government of the Commonwealth of the Northern Mariana Islands (CNMI), a US territory in the Pacific Ocean, was on the verge of running out of money when it decided to greenlight a casino project to generate revenue. Without undergoing a proper vetting process, Chinese casino operator Imperial Pacific International Holdings Ltd secured a casino license in 2014 to build a $3 billion mega resort on the island of Saipan. The contract it signed with the CNMI government guarantees Imperial Pacific exclusive control of the casino trade on the island for 25 years and exempts the company from paying additional gambling-related taxes besides the $15 million in annual fees to the government.


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