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Baltimore-Based Investors Present $200 Million Casino Project

15 May 2006

TINIAN, North Mariana Islands -- As reported by the Saipan Tribune "Top officials of the Baltimore-based Cordish Company are visiting the CNMI next week for a full presentation of their $200-million casino and golf project on Tinian, Lt. Gov. Timothy P. Villagomez disclosed yesterday.

"...Villagomez said Cordish Company is very much on top of its casino and golf course project and its officials are coming to present what they plan to do…

"...Cordish is no longer in the planning stage, but is actually now in the implementation stage.

"...Cordish Company was the second casino to sign an MOA with the Fitial-Villagomez administration. The first was Marianas Resort Development Co. Inc., which already broke ground to start construction of a $170-million casino and golf course project on Tinian.

..."All (five casino licenses) are reportedly essentially taken now. At present, only one operator has the license, Tinian Dynasty Hotel & Casino..."

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