The Philippine Amusement and Gaming Corporation regulator has reportedly declared that Chinese real estate firm Landing International Development Limited will be required to open the theme park element of its NayonLanding development before being permitted to inaugurate the coming $1.5 billion Entertainment City venue’s casino.
Five-year provision also included:
According to a report from GGRAsia, the Philippines gaming regulator used a Thursday press release to reveal the stipulation while additionally declaring that it will only grant a casino license to Hong Kong-listed Landing International Development Limited after February of 2022.
The Philippine Amusement and Gaming Corporation declared that this latter provision was due to existing agreements it had inked with nearby gambling establishments and would give them ‘a period of five years’ in order to ‘allow the industry to mature.’
Trio of theme parks:
Landing International Development Limited announced on Wednesday (pdf) that it had secured a provisional gaming license for its NayonLanding development, which it stated could open as soon as early-2022 featuring a 301,400 sq ft casino offering a collection of slots and electronic gaming machines as well as games of poker, blackjack, baccarat, roulette and craps.
The firm behind the expansive Jeju Shinhwa World integrated casino resort in South Korea reportedly explained that the envisioned Entertainment City venue is moreover set to include a trio of theme parks and a convention center alongside a plethora of dining and retail options, luxury hotels and ‘other commercial and entertainment facilities.’
15-year gaming license:
Yang Zhihui, Chairman and Executive Director for Landing International Development Limited, used the July 25 filing to detail that the gaming license for NayonLanding is not due to expire until July of 2033 although he further disclosed that his firm had yet to determine just how many gaming tables, slots and electronic gaming machines it wants to bring to the Philippines.
Entertainment City is filling up:
It will furthermore be close to the area’s City of Dreams Manila and Okada Manila developments and is set to be joined as soon as 2021 by the Resorts World Westside City property from Megaworld Corporation.