The CNMI Lottery Commission has voted unanimously to grant a conditional license to develop a minimum US$2-billion integrated casino resort on Saipan to Hong Kong-based Best Sunshine International Ltd.
The approval is considered conditional until the commission and Best Sunshine negotiate a casino development agreement.
The losing bidder is Marianas Stars Entertainment, who earlier asked the CNMI Superior Court for a restraining order on the whole vetting process.
The commission's two U.S.-based consultants that investigated and reviewed the applications-The Innovation Group of Companies and B2G Global Strategies-recommended Best Sunshine for license consideration over Marianas Stars.
Best Sunshine chief operating officer Terence Tay said he is both overjoyed and overwhelmed after learning of his company's winning bid, adding that they have put in a lot of work in the application process.
Marianas Stars consultant Sean King, for his part, said Marianas Stars was obviously disappointed with the outcome but now we move on and make sure that Tinian Dynasty Hotel & Casino stays economically viable in light of an exclusive casino license on Saipan.