Imperial Pacific
| Company type | Public company |
|---|---|
| Industry | Investment holding, gaming, casino development and management |
| Predecessor | First Natural Foods Holdings |
| Founded | February 11, 2002 |
| Founder | Yeung Chung-lung (founder of predecessor) |
| Headquarters | Hong Kong , China |
Area served | Commonwealth of the Northern Mariana Islands |
Key people | Cui Lijie (majority owner through Inventive Star Limited) |
| Products | Casino operations, hotel and dining management |
Imperial Pacific International Holdings Limited () is a Hong Kong-based Chinese investment holding company, initially known as First Natural Foods Holdings until its rebranding in May 2014. The majority ownership is held by Cui Lijie through Inventive Star Limited.
History
Originally listed on the main board of the Hong Kong Stock Exchange on 11 February 2002, First Natural Foods concentrated on frozen and functional food products. Trading was halted on 15 December 2008, and provisional liquidators were appointed in January 2009 to oversee restructuring efforts. These liquidators were released in September 2012, allowing trading activities to resume.
In 2013, the Securities and Futures Commission (SFC) initiated legal action against founder Yeung Chung-lung for allegedly misappropriating HK$84 million in December 2008.
By December 2013, First Natural Foods revealed plans to acquire Hengsheng, a Macau-based junket operator, for HK$400 million. That year, the company recorded a modest profit of HK$1.25 million. In March 2016, Imperial Pacific redirected its business exclusively toward gaming by divesting its non-gaming subsidiaries. By August 2016, it announced a half-year net profit of HK$837.3 million (US$108 million). Additionally, Imperial Pacific served as a sponsor for the Trump 2017 inaugural Gala.
In 2017, the Federal Bureau of Investigation (FBI) conducted a raid at Imperial Pacific’s casino construction site in Saipan due to violations related to workplace visas following a worker's fatality. The construction workforce included individuals unlawfully employed through a subsidiary of state-owned China Metallurgical Group Corporation. Bloomberg reported in April 2017 that the U.S. Department of Justice was investigating potential money laundering activities connected to Imperial Pacific. Further FBI raids took place at the company's Saipan offices in March 2018.
The United States Department of Labor obtained a $3.3 million judgment against Imperial Pacific in April 2019 for breaches involving wage and overtime payments. Later that year, the Equal Employment Opportunity Commission filed a lawsuit against the company concerning allegations of sexual harassment and discrimination.
In November 2019, another FBI raid targeted Imperial Pacific’s offices as part of an inquiry into money laundering and wire fraud; concurrently, a federal grand jury issued subpoenas amid an investigation into corruption linked to Northern Mariana Islands governor Ralph Torres.
Imperial Pacific revealed in March 2020 that it was under investigation by the Financial Crimes Enforcement Network regarding potential breaches of the Bank Secrecy Act. By June 2020, the Commonwealth Casino Commission moved to suspend the company’s casino license over outstanding community benefit payments.
In April 2024, Imperial Pacific sought protection under Chapter 11 bankruptcy, citing liabilities totaling approximately $165.8 million.
Best Sunshine International
Best Sunshine International, a branch of Imperial Pacific International Holdings, is engaged in the development and management of casinos, hotels, and dining establishments within the Commonwealth of the Northern Mariana Islands (CNMI). By 2016, it had become the CNMI’s largest taxpayer, contributing US$27.8 million in business gross revenue tax.
In August 2014, Imperial Pacific International secured a 25-year license to construct and operate a casino on Saipan, with an option to extend the agreement for an additional 15 years. Initially, Best Sunshine planned to invest US$3.14 billion to develop 2,229 hotel rooms, but this figure was increased to US$7.1 billion the following month to accommodate over 4,200 rooms and 1,600 gaming tables. To support these developments, Imperial Pacific raised US$99.8 million in December 2014.
In July 2015, Best Sunshine introduced a temporary casino with six Baccarat tables through a soft launch. This US$25 million venue is situated within Saipan’s DFS T-Galleria Mall. By May 2016, the company was targeting both residents and visitors from Guam by providing charter flights between the islands. The official opening of the Best Sunshine Live casino took place on 31 March 2017, while construction of the adjoining resort continued.
The flagship Grand Mariana Casino Hotel and Resort was constructed in Garapan during 2016 and 2017. The Bureau of Environmental and Coastal Quality (BECQ) issued several fines to Best Sunshine for violations related to wastewater discharge and improper working hours. During construction, ancient human remains were unearthed on-site and plans were made for their respectful reburial following project completion. Although originally slated for a December 2016 opening with an estimated investment of US$550 million, the resort’s casino held a soft opening on 6 July 2017.
On 23 March 2017, a Chinese laborer suffered a fatal fall from scaffolding at the construction site, triggering an FBI inquiry and subsequent arrest. A Bloomberg Businessweek investigation later examined the circumstances; Imperial Pacific denied the accusations and responded by filing a defamation suit against Bloomberg. Additionally, five individuals were charged by the FBI and U.S. Department of Homeland Security for harboring undocumented workers connected to this incident.
After Typhoon Yutu struck, Imperial Pacific operated its Saipan casino with limited capacity from 2 to 15 November 2018. Due to damage caused by the typhoon, the casino temporarily ceased operations from 16 to 18 November before reopening fully.