In the Philippines and hopes have reportedly been raised that Landing International Development Limited may still be granted official permission to build its $1.5 billion NayonLanding integrated casino resort on the outskirts of Manila.
According to a Wednesday report from Inside Asian Gaming, the Hong Kong-listed firm is already responsible for the giant Jeju Shinhwa World development in South Korea and was hoping to construct its latest venue complete with a trio of theme parks and a 301,400 sq ft casino on a 23.6-acre parcel of land located within the capital city’s Entertainment City district.
However, this scheme suffered a serious setback last year when Philippines President, Rodrigo Duterte, abruptly terminated an earlier 50-year land lease deal Landing International Development Limited had inked with the Nayong Pilipino Foundation. The 74-year-old leader purportedly later sacked the entire board of this state-controlled property organization after determining that it had inked an agreement with the casino firm that had not been beneficial to the country or its people.
But, Andrea Domingo, Chairman and Chief Executive Officer for the nation’s Philippine Amusement and Gaming Corporation (PAGCor) regulator, reportedly used part of a Tuesday press conference discussing the merits of the upcoming G2E Asia @ Philippines exhibition to explain that the provisional gaming licensed her organization had earlier issued to Landing Int’l remains valid. As such, the official moreover detailed that the NayonLanding scheme could still become a reality so long as the developer can find a suitable plot of Entertainment City land before the end of March.
Inside Asian Gaming reported that the 1,976-acre Entertainment City zone is already home to three giant casino resorts encompassing the Solaire Resort and Casino, City of Dreams Manila and Okada Manila properties. This Philippines trio is due to be joined in around two years’ time by the similarly-grand Resorts World Westside City development from a subordinate of Travellers International Hotel Group Incorporated while Landing International Development Limited had purportedly initially hoped to have its NayonLanding venue up and running by the end of 2022.
After having its land lease deal agreement annulled, Landing International Development Limited reportedly declared last month that it was trying ‘to find another piece of land for the development of the integrated resort’ and that it would keep the market abreast ‘of any update on the project’.