• 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

Manila resort land deal legal: Landing International

Jun 22, 2018 Newsdesk Latest News, Philippines, Top of the deck  


Manila resort land deal legal: Landing International

Casino investor Landing International Development Ltd has told GGRAsia it considers it has a “legally-binding contract” for land in the Metro Manila area (pictured) in the Philippines for a resort project.

The statement from the firm follows a Thursday report via the Politiko online news outlet, suggesting the country’s Commission on Audit had ordered an organisation called Nayong Pilipino Foundation to shelve a land lease agreement with Landing International, pending approval from the nation’s casino regulator, the Philippine Amusement and Gaming Corporation (Pagcor), and the National Economic Development Authority.

Landing International told GGRAsia in an emailed statement on Friday: “Our agreement to lease a parcel of land of approximately 9.5 hectares [23.5 acres] in size located in Parañaque City, Philippines, from Nayong Pilipino Foundation is a legally binding contract.”

The firm added: “We are not informed that the land lease contract is cancelled, and we are not aware of any reason or ground for cancellation of the lease contract.”

According to the Politiko report, Maria Fema Duterte – described as a niece of President Rodrigo Duterte and said to be on the board of Nayong Pilipino Foundation, has complained Landing International would be underpaying for its lease relative to the market value of the land at nearby Solaire Resort and Casino.

In June it was reported that a subsidiary of Bloomberry Resorts Corp – Solaire’s developer – had paid PHP37.33-billion (US$710.8-million) for outright purchase of the 16 hectares where that property is located.

Landing International had said in a filing to the Hong Kong Stock Exchange in early May that the legislature of the City of Parañaque, in Metro Manila, had approved the group’s plan to develop and operate a casino resort at Entertainment City, an area earmarked for casino resort development in the capital.

The group said the casino scheme featured a planned construction floor area of approximately 500,000 square metres (5.38-million sq feet).

The Philippines imposed on January 13 a nationwide pause on issuing further casino licences, after President Rodrigo Duterte raised concerns about the “proliferation” of gaming venues in the country.

On May 1, Andrea Domingo, the head of Pagcor, told local media that Landing International was advised to “secure a clearance” from Mr Duterte for its Entertainment City project.

On May 16, at a keynote conference session organised and moderated by GGRAsia, Jay Lee, chief operating officer of Landing International, said the group was “confident” it could obtain a Pagcor provisional licence.


  • tweet
Related articles
  • Metro Manila, Entertainment City stay in GCQ to March 31
    Metro Manila, Entertainment City stay...

    Mar 03, 2021  

  • Int Ent half-year loss up, mulls financing for Manila IR
    Int Ent half-year loss up, mulls...

    Feb 25, 2021  

More news
  • Las Vegas Sands to sell off Nevada assets for US$6.25bln
    Las Vegas Sands to sell off Nevada...

    Mar 03, 2021  

  • Macau Jan gaming tax take US$402 mln, down 63 pct
    Macau Jan gaming tax take US$402 mln,...

    Mar 03, 2021  


Latest News

Las Vegas Sands to sell off Nevada assets for US$6.25bln

Las Vegas Sands to sell off Nevada assets for US$6.25bln

Mar 03, 2021  

United States-based casino operator Las Vegas Sands Corp said in a Wednesday filing that on Tuesday it had made an agreement to sell its Las Vegas, Nevada venues and operations for US$6.25 billion....
Read More
Macau Jan gaming tax take US$402 mln, down 63 pct

Macau Jan gaming tax take US$402 mln, down 63 pct

Mar 03, 2021  

Casino surveillance biz decline tips Synectics to year loss

Casino surveillance biz decline tips Synectics to year loss

Mar 03, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“As a leaner, stronger company, we expect leverage to return to pre-pandemic levels in the next 12-18 months”

Max Chiara

Chief financial officer at gaming product and lottery services provider International Game Technology



Most Popular

  • Galaxy Macau to add Raffles-branded hotel towerGalaxy Macau to add Raffles-branded hotel tower March 1, 2021
  • Macau casino GGR down 9pct m-o-m in February: govtMacau casino GGR down 9pct m-o-m in February: govt March 1, 2021
  • Covid-19 test cert no longer needed for Macau casino entryCovid-19 test cert no longer needed for Macau casino entry March 2, 2021
  • Lim Kok Thay, GEN Singapore execs in US$1.3mln stock awardLim Kok Thay, GEN Singapore execs in US$1.3mln stock award March 2, 2021
  • Suncity to open clubs at Londoner Macao, Lisboa PalaceSuncity to open clubs at Londoner Macao, Lisboa Palace February 26, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us