• 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

London casino to focus on Chinese market: Landing

Apr 08, 2016 Newsdesk Latest News, Top of the deck, World  


London casino to focus on Chinese market: Landing

Hong Kong-listed Landing International Development Ltd has scheduled a special general meeting for April 27 to get approval from its shareholders for the acquisition of Les Ambassadeurs Club and Casino, an upmarket gaming venue in London in the United Kingdom.

Landing International said in December it had struck a conditional deal worth GBP137 million (US$192.7 million) to acquire all the shares in the company controlling Les Ambassadeurs Club (pictured), excluding gaming debt receivables.

The seller of the London venue is Twinwood Ltd, a U.K.-incorporated firm. Landing International said in a filing on Friday that the acquisition would be funded by the company’s internal resources and debt financing.

Les Ambassadeurs Club “will continue to expand and focus on the Chinese markets for high rollers” following completion of the deal, said Landing International in the latest filing. In 2015, 50.3 percent of the club’s customer base was from Asia, according to the filing.

Landing International said it expected more favourable returns from Asian high rollers despite potential higher risks. In addition, the firm said the risk of debt recovery would be manageable and reduced “through implementation of quality credit control measurements”.

Les Ambassadeurs Club and Casino currently operates 45 gaming tables offering a variety of games, including roulette, baccarat, blackjack and three card poker.

According to an extract of Twinwood’s accounts, revenue for the full year 2015 was approximately GBP49.2 million, comprising gaming revenue of about GBP21.6 million. Gaming revenue decreased about 79 percent compared to 2014.

Landing International is also involved in a project with casino operator Genting Singapore Plc to develop a new gambling resort on Jeju Island, South Korea. The firm currently owns and operates the casino at the Hyatt Regency Jeju Hotel.

“The board considers now the right timing to expand and diversify its gaming operations into other markets by investing in a casino with well-defined and recognised brand name such as Les Ambassadeurs Club,” Landing International said in Friday’s filing.


  • 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
  • Sega Sammy to launch Genesis Crest 43J cabinet in Asia
    Sega Sammy to launch Genesis Crest 43J...

    Jul 01, 2022  

  • Macau monthly GGR for June worst since Sept 2020
    Macau monthly GGR for June worst since...

    Jul 01, 2022  


Latest News

Sega Sammy to launch Genesis Crest 43J cabinet in Asia

Sega Sammy to launch Genesis Crest 43J cabinet in Asia

Jul 01, 2022  

Casino equipment supplier Sega Sammy Creation Inc said in a Friday release it was debuting its Genesis Crest 43J cabinet in Asia. The product will be available at an in-person trade show, G2E Asia:...
Read More
Macau monthly GGR for June worst since Sept 2020

Macau monthly GGR for June worst since Sept 2020

Jul 01, 2022  

Kangwon 2021 average bet 61pct above foreigner casinos

Kangwon 2021 average bet 61pct above foreigner casinos

Jul 01, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


638

Aggregate number of Covid-19 cases in the latest Macau outbreak, as of Thursday-end



Most Popular

  • Macau tells casinos cut on-duty staff by 90pct: reportsMacau tells casinos cut on-duty staff by 90pct: reports July 1, 2022
  • 5-casino Thai market ok says National Assembly committee5-casino Thai market ok says National Assembly committee June 30, 2022
  • GKL says no biz lift soon from S.Korea-Japan travel easingGKL says no biz lift soon from S.Korea-Japan travel easing July 1, 2022
  • Macau monthly GGR for June worst since Sept 2020Macau monthly GGR for June worst since Sept 2020 July 1, 2022
  • Universal hopes Okada Manila biz listed before Sept 30Universal hopes Okada Manila biz listed before Sept 30 June 30, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us