2 Aug 2011

Northern Marianas casino developer pays rent arrears

11:45 am on 2 August 2011

A casino investor in the CNMI planning to spend 300 million US dollars on a resort on Tinian island has settled an outstanding land lease debt of 37 thousand dollars.

Marianas Resort Development Co. Inc. had owed the money to the Department of Public Lands for its lease and interest covering the period from September last year until May.

The department's secretary, Oscar Babauta says the company has also paid the lease for June and indicated it'll shortly pay for July.

He says this shows the company remains committed to the casino development.

MRDC's multi million dollar investment, Matua Bay Casino Resort, will also include an 18-hole championship golf course.