12 Jul 2011

Casino investor in CNMI given 3-month extension to settle arrears

9:42 am on 12 July 2011

The Department of Public Lands in the Northern Mariana Islands has granted a three-month extension for the casino investor Neo Gold Wings Paradise to settle its public land lease arrears.

Neo Gold Wings is planning to build a six-star casino hotel and resort, a theme park, and a 36-hole golf course on Tinian.

The company has until September the 30th to pay more than 211-thousand US dollars or there will be no further negotiations to reinstate a land lease to build a multi-billion dollar casino resort on Tinian.

The original deadline was June the 30th.

The Public Lands Secretary, Oscar Babauta, has also given Neo Gold Wings 60 days after the payment of arrears to remit a one-year advanced annual rental.

The advanced payment is expected to cover the period of September 2011 to August 2012 at 6,000 a month, for a total of 72,000 US dollars.

The first of the two-phase casino project includes the construction of a 36-hole golf course and close to 800 cottages.

The second phase includes a hotel and casino and a theme park.