Landing International’s loss for 2021 was lower than the HKD2.12bn it lost in 2020.<\/p>\n\n\n\n\n\n\n\n
South Korea.-\u00a0Landing International Development\u00a0has shared its financial results for the year ended December 31, posting a loss of HKD1.06bn (US$134.9m). Consolidated revenue was up 71.3 per cent year-on-year<\/strong> to HKD1.35bn. However,\u00a0gaming-segment revenue was down 52.5 per cent\u00a0<\/strong>to HKD88.6m.<\/p>\n\n\n\n Revenue from integrated resort development\u00a0<\/strong>increased by 69.8 per cent year-on-year to HKD856.4m while real estate development revenue was nearly HKD405m, up 316.3 per cent. Losses across those three segments totalled HKD885.2m<\/strong>, an improvement from the segment loss of HKD1.7bn in 2020.<\/p>\n\n\n\n With the group facing net liabilities of HKD781.9m as of December 31, the group’s auditors warned of “material uncertainty” about its ability to continue as a going concern.<\/p>\n\n\n\n Interest-bearing bank loans increased by 155 per cent year-on-year from HKD829.2m to HKD2.11bn in 2021. Landing International’s total assets (excluding current liabilities) decreased by 27.5 per cent year-on-year to nearly HKD8.87bn.<\/p>\n\n\n\n Mandatory seven-day quarantine on arrival has been lifted for those who have been fully vaccinated with three doses against Covid-19. The measure applies to\u00a0Jeju Island<\/a>, where many casinos are located.<\/p>\n\n\n\n The announcement was well-received by South Korean casinos, of which all but one cater to foreign visitors only. In 2021, the 16 foreigner-only casinos saw their\u00a0revenue drop by nearly 31.9 per cent\u00a0<\/strong>compared to the previous year, coming in at KRW407.13bn.\u00a0<\/p>\n\n\n\nSouth Korea allows quarantine-free entry for fully vaccinated visitors<\/h2>\n\n\n\n