No mention of Duterte-ordered license suspensions
A wholly-owned unit of Hong Kong-listed casino investor Landing International Development Ltd. has been granted a provisional gaming license from the Philippine Amusement and Gaming Corp., the company has announced. The announcement made no mention of a widely reported suspension of all gaming licenses in the country, ordered by President Rodrigo Duterte in May.
Landing Resorts Philippines Development Corp., will “operate a casino at the integrated leisure and entertainment resort within Entertainment City,” in Metro Manila, home of other casino resorts including Okada Manila, Solaire Resort & Casino and City of Dreams Manila.
According to GGRAsia, the parent company will break ground on the $1.5 billion property in August, with the project expected to open in early 2022. The resort, to be known as NayonLanding, “is expected to be financed by internal financial resources and cash flows from [Landing International’s] operations and borrowings,” said the Hong Kong-listed company.
Landing will lease 9.5 hectares (23.5 acres) in Entertainment City for a complex that will include “a casino; an indoor cultural theme park and water park featuring the Philippines’ rich history, culture and heritage; an indoor movie-based theme park; a convention center; luxury hotels; retail; and dining areas,” the company stated.
“We would like to thank PAGCOR for their vote of confidence in granting Landing Philippines a provisional gaming license in the Philippines and the opportunity to strategically expand our Landing brand into the Philippines,” said Yang Zhihui, chairman and executive director of Landing International, which now operates Jeju Shinhwa World casino resort in Jeju, South Korea.
Yang said the Philippines project is part of the company’s plan to infiltrate the Southeast Asia market, “hence taking a major step towards Landing International’s aspiration to be a leading premium integrated resort operator in the region.”
He added, “NayonLanding will be able to leverage on the growing brand equity in Jeju Shinhwa World to attract more Koreans and tourists in the region to visit the Philippines.”
