Casino resort investor Landing International Development Ltd says it cannot account for unusual movements in the price of its stock on Tuesday and unusual volumes of the stock traded. The company told the Hong Kong Stock Exchange that in the absence of Landing International chairman Yang Zhihui, its other directors had made inquiries but had found nothing to add to what the company announced before.
Mr Yang owns a company that owns 50.48 percent of Landing International. Landing International told the stock exchange on Tuesday that its directors were unaware of any reasons for the sharp decline in the price of its stock, of any information that should be announced to avoid a false market in Landing International securities, or of any inside information that should disclosed to comply with the law.
Landing International told GGRAsia on September 10 that it had been unable to contact Mr Yang since August 23.
Landing International opened a foreigners-only casino at its Jeju Shinhwa World resort on the South Korean island of Jeju in February.
Lading saw its share price plummet from a peak around HKD5.00 a share in July and August.
Mr Yang controls a majority of the company’s shares. Industry sources had told GGRAsia he was reportedly last seen in Cambodia in late August. Shortly after that, an image was circulating online showing a person resembling Mr Yang airside on an airport’s tarmac, being escorted in handcuffs by two men.
Sep 19, 2018Nowadays, millennials, people who were born in the 1980s or...
Aug 16, 2018Food and drink have been heavily marketed as part of Macau...
Jun 27, 2018Macau’s gaming law needs to be amended in order to...
Oct 23, 2018Visitor arrivals to Macau totalled over 2.56 million in September, up by 3.0 percent year-on-year, the latest data from the city’s Statistics and Census Service showed. The September visitor tally...
Oct 23, 2018
Oct 23, 2018
”After three years of operation, we see that the majority of our [Tigre de Cristal's] revenue actually comes from the local market, rather than the junket segment”
COO for Russian operations at casino investor Summit Ascent