first_img PAGCOR revenue to hit Php75 billion in 2020 Strong VIP growth sees Okada Manila GGR climb 72% in August RelatedPosts Landing’s IR, to be named “NayonLanding”, is set to be built on a parcel of land measuring 95,700 square meters and will comprise a casino, indoor cultural theme park and waterpark, an indoor movie-based theme park and a world-class state-of-the-art convention center as well as luxury hotels and international retail and dining.Confirmation of the gaming license comes one month after the Philippines’ Commission on Audit (COA) ordered Nayong Pilipino Foundation (NPF) – a state-owned corporation under the Department of Tourism – to pause a lease agreement it had signed with Landing until relevant licenses were obtained from PAGCOR and the National Economic Development Authority (NEDA). Landing had previously had its IR plan approved by the City of Parañaque City Council.In a statement, Landing said that NayonLanding will be a family-oriented resort promising a distinctly different cultural experience and leisure and entertainment destination.“We would like to thank PAGCOR for their vote of confidence in granting Landing Philippines a provisional gaming license in the Philippines and the opportunity to strategically expand our Landing brand into the Philippines,” said Landing International Chairman and Executive Director, Dr Yang Zhihui.“The integrated resort will contribute positively to the tourism sector in the country. We will generate significant job opportunities during the construction period and in resort operations when the integrated resort is opened.“Following the successful opening of Jeju Shinwa World, one of the largest family-oriented integrated resorts in Northeast Asia, this investment is an ideal opportunity for us to strategically expand Landing’s footprint into Southeast Asia, hence taking a major step towards Landing International’s aspiration to be a leading premium integrated resort operator in the region. NayonLanding will be able to leverage on the growing brand equity in Jeju Shinhwa World to attract more Koreans and tourists in the region to visit the Philippines.”Landing said it will hold the ground-breaking ceremony for NayonLanding on 7 August 2018, with a planned opening date in early 2022. The cost of development is estimated at around US$1.5 billion. Landing International Development Limited has been granted a provisional gaming license by Philippines gaming regulator PAGCOR to operate an integrated resort including a casino within Manila’s Entertainment City precinct in Parañaque.The license will be valid for 15 years until 11 July 2033 and allows for the provision of baccarat, blackjack, pontoon, roulette, Casino War, Stud Poker, pai gow, slot machines, EGMs and poker among other variants. The company is yet to submit its master development plan to PAGCOR for approval. Load More Jeju gaming decline sees Landing International fall into loss in 1H19last_img read more