A U.S.-based, publicly-traded international gaming company engaged our firm to conduct due diligence on a large hotel and casino project which is under construction in a U.S. territory in the Pacific.
The project is being funded by non-U.S. citizens (mostly from the People’s Republic of China) who are making investments into an EB-5 Regional Center and are designated by the U.S. Department of Homeland Security and U.S. Citizenship and Immigration Services (USCIS) for participation in the Immigrant Investor Program (a highly regulated program that can enable qualifying foreign investors to secure lawful permanent resident – aka “Green Card” – status and the right to live and work permanently in the U.S). Many USCIS-approved EB-5 Regional Centers have failed and been terminated, and many EB-5 programs have been the subject of SEC investigations and litigation.
The immigration and global mobility team conducted due diligence on this EB-5 Regional Center on behalf of investors. Our due diligence on the performance of the EB-5 Regional Center was an important factor in the gaming company’s decisions on whether and how to proceed with negotiations on a multi-year gaming license contract.