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.
Details of the Casino License Agreement have been disclosed in the announcement of the Company dated 13 August 2014.
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).
Any Borrower or Guarantor fails to keep in full force and effect, suffers the termination, revocation, or suspension of, terminates, forfeits, or suffers a materially adverse amendment to, any Casino License at any time held by the Borrower or such Guarantor that is necessary to the operation of any casino located at the Facilities owned by the Borrower or such Guarantor.