$2 billion Casino Resort bid for Saipan Island
Saipan Island arrowed on map
A major investor in Macau’s VIP rooms has made a bid for a $2 billion casino resort development in the Western Pacific Ocean island of Saipan.
First Natural Foods Holdings said it will invest the sum if it receives an exclusive license to run a casino on the island which is part of the Northern Mariana Islands a commonwealth territory of the United States.
The firm which is a listed company on the Hong Kong Stock Exchange said that its subsidiary company Best Sunshine International Ltd, had submitted a business plan to local authorities on the island for the only casino resort there. First Natural wants to build four luxury hotels with 2,000 rooms and villas along with a casino on Saipan with its initial investment of $2 billion which could rise even more.
Local newspapers on the island say this is the second bid for a casino resort which will focus on Chinese gamblers. The first bid is from Marianas Stars Entertainment another Hong Kong listed company.
The island governor Eloy Inos said that because both casino projects target the Chinese market they will hire experts from Macau to review the bids. The governor added that the casino resort can provide “an economic future for many families.”
It is expected that the successful bidder will be announced on June 20th of this year.
