Entering new market with casino
Hong Kong-listed Landing International has expanded its holdings with the acquisition of an exclusive gambling club in the Mayfair section of London.
The company announced it has added Les Ambassadeurs to its portfolio, paying GBP137 million (US$208 million) for the club, which has been figured prominently in motion pictures including the Beatles’ “A Hard Days’ Night” and the James Bond film, “Dr. No.” Les Ambassadeurs has 45 gaming tables offering roulette, baccarat, blackjack and three-card poker, according to PokerNews.com.
In a statement, the company said its board “considers now the right timing to expand and diversify its gaming operations into other markets by investing in a casino with well-defined and recognized brand name such as Les Ambassadeurs Club.”
GGRAsia reports that the seller is Twinwood Ltd., a U.K.-incorporated firm. The acquisition “represents a unique and good investment opportunity that allows the company to step up its investment and presence in the gaming industry and to enhance the future earning capability and potential of the group,” it added.
Landing International is also busy on a casino resort on Jeju Island in the Korean Strait. The $1.8 billion resort, a joint project between Landing and its partner Genting Singapore, broke ground in February. It will reportedly be modeled after Genting Singapore’s Resorts World Sentosa in Singapore, and will open in stages from 2017 to 2019.
