{"id":17318,"date":"2021-04-28T15:25:54","date_gmt":"2021-04-28T15:25:54","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=17318"},"modified":"2026-04-23T20:00:59","modified_gmt":"2026-04-23T23:00:59","slug":"landing-still-committed-to-developing-philippine-ir","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/landing-still-committed-to-developing-philippine-ir","title":{"rendered":"Landing still committed to developing Philippine IR"},"content":{"rendered":"\n<p>PAGCOR has granted Landing International more time to submit a remedy for the provisional licence for its development of an integrated resort.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.-&nbsp;<strong>Landing International<\/strong>&nbsp;has said in its 2020 annual report that the<strong>&nbsp;Covid-19 pandemic<\/strong>&nbsp;and <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/manila-eases-covid-19-restrictions-but-casinos-remain-closed\">resulting countermeasures<\/a> have prevented <strong>the company from searching for suitable land to develop an integrated resort<\/strong>.<\/p>\n\n\n\n<p>However,<strong>&nbsp;the Philippines Amusement and Gaming Corporation (PAGCOR)&nbsp;<\/strong>has granted the&nbsp;<strong>casino operator more time to submit a remedy<\/strong>&nbsp;for the provisional licence.<\/p>\n\n\n\n<p>Landing International Development Ltd was ready to start the construction of its&nbsp;<strong>US$1.5bn IR in Manila<\/strong>&nbsp;and reported it would be finished by 2022. However,&nbsp;<strong>Philippine authorities declared the lease<\/strong>&nbsp;for the earmarked site void, leaving Landing in need of another piece of land.<\/p>\n\n\n\n<p>The Integrated Resort will include a 1,500 room hotel and a casino, among other facilities.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/landing-international-reports-us272m-net-loss-for-2020\">Landing International Development<\/a>&nbsp;has reported&nbsp;<strong>a net loss of approximately HKD2.12bn (US$272.0m) for 2020. <\/strong>Gaming revenue was down 12.5 per cent year-on-year&nbsp;to HKD186.49m.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PAGCOR has granted Landing International more time to submit a remedy for the provisional licence for its development of an integrated resort.<\/p>\n","protected":false},"author":176,"featured_media":17328,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"PAGCOR has granted Landing International an extension for its provisional integrated resort license, citing the COVID-19 pandemic and land acquisition issues as primary impediments to development. The company reported a significant net loss of HKD2.12bn and a 12.5% year-on-year decline in gaming revenue for 2020, underscoring the financial impact of these delays.","focusai_entities":"PAGCOR, Landing International, Landing International Development Ltd","focusai_location":"Philippines, Manila","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (0.8), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"PAGCOR's License Extension Rationale?","query":"What specific criteria or governance frameworks did PAGCOR apply in granting Landing International an extension for its provisional integrated resort license, particularly given the prior voidance of the land lease?"},{"label":"Impact on Landing's Capital Structure?","query":"How will the continued project delays and reported HKD2.12bn net loss impact Landing International's capital structure, financing strategy, and ability to secure a new suitable land parcel for the US$1.5bn IR development?"}],"footnotes":""},"categories":[28,16333],"tags":[23632,23907],"class_list":["post-17318","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-south-east-asia-news","tag-integrated-resorts","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=17318"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17318\/revisions"}],"predecessor-version":[{"id":17352,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17318\/revisions\/17352"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17328"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=17318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=17318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=17318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}