More News
LEISURE & ENTERTAINMENT | Staff Reporter, Hong Kong

Philippines to scrap Landing International Development's US$1.5b Manila casino project

The move comes mere minutes after the firm broke ground.

Reuters reports that Philippines is moving to cancel the US$1.5b integrated casino project by Hong Kong-listed Landing International Development Ltd in Manila just minutes after the firm broke ground.

“Sorry to burst your bubble, people, but the president said that is grossly disadvantageous to the government,” presidential spokesperson Harry Roque told a media briefing on the grounds that the rental payment terms in the contract was "unconscionable."  

However, Landing said in a statement that it remains committed to the lease contract with Nayong Pilipino Foundation.

“Unless the lease contract is canceled or nullified on solid legal grounds by the courts, Landing has reason to believe that it is a valid leaseholder and can legally proceed with its project,” Landing added.

Here’s more from Reuters:

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.