Casino License definition
Examples of Casino License in a sentence
The Board considered that pursuant to the force majeure clause under the Casino License Agreement, the Licensee is not required to pay the Annual License Fee in the event of natural disasters.
The Group did not dispute that it owes this money and instead has argued that a Force Majeure clause contained within the Casino License Agreement should be applicable as a result of the COVID-19 pandemic and/or that payment should be delayed.
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On 23 April 2021, the Licensee received an order from the CCC that, among other matters, the casino resort developer license as granted under the Casino License Agreement (as amended) between the Licensee and the CNMI is suspended, the Licensee shall pay the Annual License Fee of US$15,500,000 (equivalent to HK$ 120 million) and the Casino Regulatory Fee of US$3,100,000 (equivalent to HK$24 million) immediately and that the Licensee shall pay penalties of US$6,600,000 (equivalent to HK$51 million).
The Licensees are the named licensees and holders of the Casino License.