The Hong Kong-listed shares of casino developer Landing International Development Ltd had fallen by 35.06 percent in the first 90 minutes of Thursday trading, prior to the stock being suspended at 10.53am.
At time of suspension the shares were priced at HKD3.76 (US$0.479) apiece. At Wednesday’s close the shares had been valued at HKD5.79 each.
The company told the bourse in a Thursday morning filing that it had requested suspension of its stock “pending the release of an announcement in relation to inside information of the company”.
GGRAsia approached the group seeking more information on the reasons for suspension, but a spokesperson said it could not comment until an announcement had been made to the market.
In February the group opened a foreigner-only casino at its Landing Jeju Shinhwa World resort on the South Korean island of Jeju.
The firm is also pursuing a casino project in Manila in the Philippines.
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”China has been strengthening the control over capital flow, and the impact of that has already been reflected [on Macau’s gaming revenue trend]. There should not be any bigger impact from the new… legislation [on the mainland] … on the gaming revenue trend here”
Wilfred Wong Ying Wai
President of Macau casino operator Sands China