{"id":18194,"date":"2021-05-24T15:42:46","date_gmt":"2021-05-24T15:42:46","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=18194"},"modified":"2026-04-23T19:17:28","modified_gmt":"2026-04-23T22:17:28","slug":"landing-international-expects-to-raise-us17-9m-from-new-shares","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/landing-international-expects-to-raise-us17-9m-from-new-shares","title":{"rendered":"Landing International expects to raise US$17.9m from new shares"},"content":{"rendered":"\n

Landing International plans to use the funds for the maintenance and upgrade of its casino resort Jeju Shinhwa World on South Korea\u2019s Jeju Island.<\/p>\n\n\n\n\n\n\n\n

Hong Kong.-\u00a0Landing International Development<\/strong>\u00a0has announced it has entered into a subscription agreement for\u00a0HK$0.197 per subscription share<\/strong>.<\/p>\n\n\n\n

It\u00a0expects to raise HKD138.8m (US$17.9m)<\/strong>, or HKD138.5m after expenses, for the maintenance, renovation and upgrade of the existing facilities at its foreigner-only casino resort\u00a0Jeju Shinhwa World\u00a0<\/strong>on South Korea\u2019s Jeju Island.<\/p>\n\n\n\n

The company also wants to use part of the money for the “preliminary development cost for the\u00a0construction of new hotel within Jeju Shinhwa World<\/strong>, which is expected to be incurred from the second half of 2021.”<\/p>\n\n\n\n

The remaining balance will be used for the payment of interest expenses and general working capital<\/strong>.<\/p>\n\n\n\n

For 2020, Landing International<\/a>\u00a0reported a net loss of approximately HKD2.12bn (US$272.0m)<\/strong>, slightly below the net loss of HKD2.13bn reported in 2019.<\/p>\n\n\n\n

It reported gaming revenue down 12.5 per cent year-on-year<\/strong>\u00a0at HKD186.49m and consolidated revenue down 3.4 per cent to HKD788.01m.<\/p>\n\n\n\n

The company attributed the results to the drop in tourism due to the Covid-19 pandemic<\/strong> and lower property sales.<\/p>\n\n\n\n

Its foreigner-only casino resort Jeju Shinhwa World <\/strong>on South Korea\u2019s Jeju Island generated segment revenue of approximately HKD504.23m<\/strong>, up by 3.2 per cent when compared to 2019. <\/p>\n\n\n\n

Landing International\u00a0suspended large-scale expansion projects<\/a>\u00a0such as\u00a0Four Seasons Resorts\u00a0<\/strong>and\u00a0Lionsgate Movie World<\/strong>\u00a0to preserve group liquidity.<\/p>\n\n\n\n

Hong Kong-Singapore travel bubble delayed until June<\/h2>\n\n\n\n

Singapore\u2019s Ministry of Transport\u00a0<\/strong>has confirmed that the planned\u00a0travel bubble<\/a>\u00a0between Singapore and Hong Kong has been put back until at least June.<\/p>\n\n\n\n

One of the main requirements for the travel bubble was that the two countries should have zero cases of Covid-19<\/strong>. Hong Kong has met the criteria, but the emergence of new cases in Singapore rules out the arrangement for now.<\/p>\n\n\n\n

The two countries will closely monitor the public health situation<\/strong>. Hong Kong has said that an announcement will be made on or before June 13<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Landing International plans to use the funds for the maintenance and upgrade of its casino resort Jeju Shinhwa World on South Korea\u2019s Jeju Island.<\/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":"Landing International Development has secured HKD138.8m (US$17.9m) through a subscription agreement, primarily designated for the maintenance, renovation, and preliminary new hotel development at its Jeju Shinhwa World integrated resort in South Korea. This capital injection aims to bolster operational capabilities and strategic expansion, following a reported HKD2.12bn net loss in 2020, largely attributed to pandemic-induced tourism declines. The broader regional tourism recovery remains challenged, as evidenced by the delayed Hong Kong-Singapore travel bubble.","focusai_entities":"Landing International Development, Jeju Shinhwa World, Four Seasons Resorts, Lionsgate Movie World, Singapore\u2019s Ministry of Transport","focusai_location":"South Korea, Jeju Island, Hong Kong, Singapore","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Capital Deployment Strategy","query":"How will the HKD138.8m capital injection be precisely allocated across immediate operational maintenance, the preliminary new hotel development, and general working capital, and what are the projected ROI timelines for these strategic investments?"},{"label":"Market Recovery Outlook","query":"Given the continued delays in regional travel bubbles and the \"foreigner-only\" designation of Jeju Shinhwa World, what are Landing International's revised projections for GGR recovery and overall visitation volumes for H2 2021 and FY 2022?"}],"footnotes":""},"categories":[157,16333],"tags":[23907,23924],"class_list":["post-18194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-land-based-casino","tag-landing-international"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18194","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=18194"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18194\/revisions"}],"predecessor-version":[{"id":18225,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18194\/revisions\/18225"}],"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=18194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=18194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=18194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}