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Yutu struck Saipan on the morning of October 25, killing two people and leveling more than 3,000 homes. With windspeeds of up to 180 mph, it was the most powerful tropical cyclone of 2018, but despite Saipan’s status a US overseas territory, the disaster was largely ignored by the world\u2019s media.<\/p>\n<\/div>\n
When Reuters<\/em> visited the island this week, hundreds of people were still living in makeshift housing, while some 900 children on the tiny island were being schooled in tents.<\/p>\nPayments Dip More Than 70 Percent<\/strong><\/h2>\nRevenue-share payments from the casino operation to the island\u2019s government have dropped by more than 70 percent, according to Imperial Pacific\u2019s most recent financial report, while lawmakers have said the company is behind on its monthly payments.<\/p>\n
Having shut down during the typhoon, Imperial Palace is currently open to gamblers, but only part of it. The casino and accompanying hotel is being built in phases, and is not yet finished. Imperial Pacific missed its second deadline for completion in December and was granted another extension by island authorities until February 2021.<\/p>\n
But there are concerns on the island that the new deadline will also be missed due to labor shortages.<\/p>\n
Saipan\u2019s government has initiated austerity measures and is currently considering legislation to legalize online gambling to offset falling revenues from the casino.<\/p>\n","protected":false},"excerpt":{"rendered":"
The US Pacific island of Saipan is struggling to rebuild after the destruction wrought by Super Typhoon Yutu last October, largely because the declining fortunes of its controversial casino, Imperial Palace, Reuters reports this week. Last month, the Chinese-owned casino booked a $415.3 million loss for 2018, citing a dramatic fall in VIP revenue and […]<\/p>\n","protected":false},"author":36,"featured_media":103196,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,10,18],"tags":[],"acf":[],"yoast_head":"\n
Saipan Typhoon Clean Up Hampered by Plummeting Casino Revenue<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n