ALTER City Group, an investor on Tinian whose land lease agreement with the Department of Public Lands was terminated last month, is a victim of “geopolitical factors” affecting potential investment in the CNMI, Tinian Mayor Edwin P. Aldan said.
In a statement on Tuesday, Aldan said, “It is unfortunate that Alter City Group was unable to complete their proposed hotel and casino resort on Tinian which resulted in the termination of their public land lease.”
He said as mayor of Tinian and Aguiguan, he will always support investments that will promote the tourism industry and create private sector jobs.
“I believe Alter City Group had very good intentions to build a first-class resort on Tinian, but unfortunately fell victim to external geopolitical factors,” the Tinian mayor said.
However, as with any investor, Aldan said, Alter City Group is still required to comply with the terms of its lease agreement with the Department of Public Lands and applicable laws and regulations.
View the Marianas Variety article here:
https://www.mvariety.com/news/local/tinian-casino-investor-a-victim-of-geopolitical-factors/article_5dc19d9c-4bb6-11ee-aafe-8744c97759eb.html
