• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Jeju casino developer warns of wider loss in 2016

Jan 11, 2017 Newsdesk Latest News, Rest of Asia, Top of the deck  


Jeju casino developer warns of wider loss in 2016

Landing International Development Ltd, a mainland China real estate developer that is pursuing a foreigner-only casino resort project on Jeju Island, South Korea, has warned it expects its annual net loss to widen in the 2016 reporting period.

The Hong Kong-listed firm’s 2015 net loss was approximately HKD987.97 million (US$127.4 million).

In a Tuesday filing outlining the profit warning, it said the anticipated 2016 net loss was mainly due to: “change in fair value of financial assets at fair value through profit or loss; increase in administrative expenses, mainly staff-related cost and marketing expenses, incurred in the construction and pre-opening stages of the integrated resort development and property development; and increase in other operating and administrative expenses due to expansion of the group”.

Landing International said in a January 3 filing it now has 100-percent control of the foreigner-only casino project on Jeju, referred to as “Jeju Shinhwa World”.

Genting Singapore Plc, operator of the Resorts World Sentosa gaming resort in Singapore, told the Singapore Exchange in a November 11 filing that the total consideration it would receive for relinquishing its interest in the Jeju scheme was US$420 million in cash.

In 2016, Landing International acquired Les Ambassadeurs Club and Casino (pictured), an upmarket gaming venue in London in the United Kingdom.


  • tweet
Related articles
  • Landing’s Jeju casino hosting Triton Poker tour stop
    Landing’s Jeju casino hosting Triton...

    Feb 18, 2019  

  • Kangwon Land’s 4Q profit slumps as gaming rev declines
    Kangwon Land’s 4Q profit slumps as...

    Feb 14, 2019  

More news
  • Casino architects Steelman Partners name new chief
    Casino architects Steelman Partners...

    Feb 18, 2019  

  • Scorgie heads Indo Pacific’s new table games team
    Scorgie heads Indo Pacific’s new...

    Feb 18, 2019  


Latest News

Casino architects Steelman Partners name new chief

Casino architects Steelman Partners name new chief

Feb 18, 2019  

Casino design specialists Steelman Partners LLP have named Steve Anderson as the company’s new president after Ethan Nelson’s resignation in December. Mr Anderson has been a senior project...
Read More
Landing’s Jeju casino hosting Triton Poker tour stop

Landing’s Jeju casino hosting Triton Poker tour stop

Feb 18, 2019  

Scorgie heads Indo Pacific’s new table games team

Scorgie heads Indo Pacific’s new table games team

Feb 18, 2019  

Budget hotel rule tweaks may aid Macau tourism: reps

Budget hotel rule tweaks may aid Macau tourism: reps

Feb 18, 2019  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We expect it [the first phase of casino resort Hoiana in Vietnam] to open in October, and by then basically 90 percent of the first-phase content will be launched – such as the golf course, and hotels”

Andrew Lo Kai Bong

Executive director of project investor Suncity Group



Most Popular

  • No local Vietnam players at Hoiana launch: SuncityNo local Vietnam players at Hoiana launch: Suncity February 15, 2019
  • Beijing new grey money curbs with unclear impact on MacauBeijing new grey money curbs with unclear impact on Macau February 15, 2019
  • Universal Ent back to profit after Wynn Resorts settlementUniversal Ent back to profit after Wynn Resorts settlement February 15, 2019
  • MGM Resorts places all-in bet on Osaka for Japanese casinoMGM Resorts places all-in bet on Osaka for Japanese casino February 15, 2019
Copyright 2014-2019 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us