Micronesian Casino Deal Signed - Thursday 9th of March 2006

MICRONESIA – As reported by the Saipan Tribune: "Tinian moved a step closer to becoming Micronesia's Las Vegas, with two companies now in the process of establishing hotel casinos on the island.

"Representatives of the Marianas Resort Development Co. Inc. and the Department of Public Lands signed a memorandum of understanding yesterday in relation to a new $170-million casino and golf course project on Tinian.

"MRDC comes in addition to Tinian Dynasty Hotel and Casino, which has been operating since 1998, and Bridge Investment Group, which also looks to invest about $150 million in a new hotel casino.

"…Phase I of the project will be completed after an initial investment of more than $170 million. It will involve the construction of a 300-room hotel casino, with 100 full suites and 200 junior suites, four full-service restaurants, a spa, wedding chapel, shopping arcade, and a convention facility that will accommodate 600 people…"

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