Casino resort investor Landing International Development Ltd says it has agreed to lease 9.5 hectares (23.5 acres) of land in Manila, the Philippine capital, to “develop an integrated leisure and entertainment resort”.
The Monday filing to the Hong Kong Stock Exchange added it would feature “among other” things, a “Filipino culture theme park, an indoor water park, an indoor movie-based theme park, a convention centre, hotels, a retail mall and other commercial and entertainment facilities”.
The document did not mention gaming. But at a company event at the group’s new Jeju Shinhwa World casino resort in Jeju, South Korea in March, Yang Zhihui, chairman and executive director of Landing International, said that the group’s application for a gaming licence from the Philippine casino regulator, the Philippine Amusement and Gaming Corp, a body also known as Pagcor, had been “under negotiation” since “last year”.
At the March event, Mr Yang also reiterated he had meetings last year with Philippine President Rodrigo Duterte regarding possible development of a “theme park integrated resort” in that country.
In Monday’s filing, the group said the land in question was at Parañaque City (pictured) in Metro Manila.
“The group is currently in the process of applying to the relevant authorities for all necessary approvals to develop and operate the integrated resort,” added the statement.
It further noted: “The integrated resort, if approved and completed, will add to the group’s portfolio of world-class integrated destination resorts with premium leisure and entertainment facilities which cater local and overseas visitors of all ages currently headlined by Jeju Shinhwa World in Jeju, South Korea.”
The Philippine casino regulator said in statement emailed to GGRAsia on Tuesday in response to an enquiry made last week about a possible Landing International casino scheme for the Philippines: “Landing International Development Ltd has no pending formal application with Pagcor.”
The regulator added, regarding a question about the exact location of the resort: “Landing International has not submitted any location plans to Pagcor, hence we cannot answer that question with certainty.”
(Updated 9.53am, April 10)
Apr 24, 2018Hong Kong-listed casino services firm Macau Legend Development Ltd has confirmed to GGRAsia it is aiming to invest US$300 million to US$500 million across “several projects” in the...
Apr 24, 2018
Jan 04, 2018BMM Testlabs “ticks all the boxes” with regard to its...
Dec 08, 2017The regulated casino industry is well versed in dealing...
Oct 23, 2017The presence of some of the leading cloud computing...
Jul 11, 2017The Tokyo local election setback for Japan’s governing...
Jul 06, 2017A multibillion U.S. dollar casino project on Vietnam’s...
"Aristocrat’s diversified mobile game portfolio approach has the potential to manage risk and monetise better"
Donald Carducci, Shaun Cousins and Shalin Doshi
Analysts at banking group JP Morgan