Partners with Genting on second project
Mainland China real estate developer Landing International, which owns half of the holding company that runs a casino at the Hyatt Regency Jeju Hotel, will acquire the remaining equity from Genting Hong Kong Ltd. for KRW130 billion (US$111.1 million), GGRAsia reports.
The Jeju casino will serve as a “platform” for the group to “build up its own brand name and goodwill in the gaming industry, and to develop its own professional team in casino operation and management,” Landing International said in a filing to the Hong Kong Stock Exchange. The deadline for the completion of the transaction is December 31.
Landing said it may expand its gaming enterprise “in other suitable markets and broaden its market share in the gaming industry.” It has partnered with Genting Singapore for a new casino project, also on Jeju, that broke ground in February.
