In the Philippines, the Entertainment City district south of Manila could soon feature a fifth integrated casino resort after Chinese real estate firm Landing International Development Limited reportedly revealed that its planned development for the area had received local government approval.
According to a report from GGRAsia citing a Monday filing from Hong Kong-listed Landing International Development Limited, the envisioned 5.38 million sq ft integrated casino resort has been christened NayonLanding and is due to sit on 23.6 acres of land adjoining Manila Bay. Alongside a casino and a convention center, the projected new property is purportedly moreover set to feature a cinema, luxury hotels, a trio of theme parks and a range of other entertainment and retail facilities.
In its filing, Landing International Development Limited reportedly declared that the Paranaque City Council had passed a resolution approving a request from its Landing Resorts Philippines Development Corporation subsidiary to build and operate NayonLanding although the operator must now receive a license from the Philippine Amusement and Gaming Corporation regulator before gaining final consent from the office of President Rodrigo Duterte.
“The group is still in the process of applying for other approvals required to develop and operate the integrated resort and these may or may not be granted,” read the filing (pdf) from Landing International Development Limited, which is already responsible for the expansive Jeju Shinhwa World integrated casino resort facility in South Korea. “Shareholders of the company and potential investors should note that the relevant approvals for developing the integrated resort may or may not be granted and are advised to exercise caution when dealing in the company’s securities.”
GGRAsia reported that Landing International Development Limited has been in negotiations with the Philippine Amusement and Gaming Corporation regarding a license for its planned NayonLanding development since 2017. It also detailed that the firm could face stiff opposition from Duterte after January saw the 73-year-old President institute a partial moratorium on the building of any more gaming establishments near Manila after becoming alarmed by the ‘proliferation’ of casinos in the country.
“[Landing International Development Limited] presented its project to the board last year and formalized its application in March,” reportedly read a statement from Andrea Domingo, Chief Executive Officer for the Philippine Amusement and Gaming Corporation. “We informed it to secure clearance from the office of the President, which it said it will comply.”
The Bloomberry Resorts and Hotels Incorporated subsidiary of Manila-listed casino operator Bloomberry Resorts Corporation premiered the first integrated casino resort for the three-square-mile Entertainment City district in 2013 with its Solaire Resort and Casino. This was soon followed by local firm Belle Corporation in partnership with Melco Resorts and Entertainment Limited opening the nearby City of Dreams Manila development while December of 2016 saw the Tiger Resort, Leisure and Entertainment Incorporated subordinate of Japanese firm Universal Entertainment Corporation begin welcoming guests to its giant Okada Manila venue. The reclaimed area sits only about a 15-minute drive from Manila Ninoy Aquino International Airport and is furthermore due to welcome the Resorts World Westside City property from Megaworld Corporation as soon as 2021.