• 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
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Landing Int completes disposal of London casino

Oct 12, 2017 Newsdesk Latest News, Rest of Asia, Top of the deck, World  


Landing Int completes disposal of London casino

Hong Kong-listed casino investor Landing International Development Ltd said on Wednesday that it had clinched the disposal of Les Ambassadeurs Club and Casino (pictured), an upmarket gaming venue in London in the United Kingdom.

“All conditions precedent of the disposal agreement have been fulfilled and the completion took place on 11 October 2017,” said Landing International in a filing.

The move involved an aggregate consideration of HKD2.5 billion (US$320.3 million), according to a September filing from the company announcing the sale agreement.

Landing International said at the time that it estimated that it would record “a gain before tax and consideration of other transaction costs of approximately HKD500 million from the disposal”. The firm said that represented “a return on investment of approximately 30 percent to 35 percent expressed as the ratio of estimated gain over initial acquisition consideration”.

Landing International acquired Les Ambassadeurs in April 2016 for approximately GBP131 million (US$173.5 million).

The company said the deal would “strengthen the group’s cash flow and working capital position” as it focused on the development of the Jeju Shinhwa World casino resort complex on the South Korean holiday island of Jeju. The firm completed last month the placing of 24 billion shares, raising net proceeds of HKD1.79 billion for the development of the new Jeju scheme.

Landing International said in late September that the “official opening” of Jeju Shinhwa World would be on December 8. It added that a casino facility would open there that day, but didn’t give further details.

In late August, the firm said in a filing it might shift an existing casino operation it has at another Jeju resort, to the new venture.


  • tweet
Related articles
  • Kangwon drove 2021 S.Korea casino revenue growth: govt
    Kangwon drove 2021 S.Korea casino...

    May 18, 2022  

  • Casino op Landing halves year loss, gaming revenue dips
    Casino op Landing halves year loss,...

    Mar 31, 2022  

More news
  • New Lim cruise biz only months after GEN HK in liquidation
    New Lim cruise biz only months after...

    May 18, 2022  

  • Over 7.9mln Bloomberry shares vested to some senior execs
    Over 7.9mln Bloomberry shares vested to...

    May 18, 2022  


Latest News

New Lim cruise biz only months after GEN HK in liquidation

New Lim cruise biz only months after GEN HK in liquidation

May 18, 2022  

A casino cruise brand reportedly controlled by Malaysian entrepreneur Lim Kok Thay is to launch services from Singapore fewer than five months after the Lim family-founded Dream Cruises brand of the...
Read More
Kangwon drove 2021 S.Korea casino revenue growth: govt

Kangwon drove 2021 S.Korea casino revenue growth: govt

May 18, 2022  

Over 7.9mln Bloomberry shares vested to some senior execs

Over 7.9mln Bloomberry shares vested to some senior execs

May 18, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$10 billion

Target set by gaming equipment and online content provider Light & Wonder for total capital creation from 2022 to 2025



Most Popular

  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
  • Macau repeat visitors denied visa by China says BernsteinMacau repeat visitors denied visa by China says Bernstein May 16, 2022
  • U.S. says Steve Wynn ‘foreign agent’, lobbied for ChinaU.S. says Steve Wynn ‘foreign agent’, lobbied for China May 18, 2022
  • Alleged bribe offer to ex-Wynn manager probed by HK, MacauAlleged bribe offer to ex-Wynn manager probed by HK, Macau May 17, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us