Hong Kong-listed Landing International Development said it has obtained a provisional gaming license to develop a $1.5 billion IR in the City of Paranaque in the Philippines.
Philippine President Rodrigo Duterte announced he was firing the entire board of Landing International’s local partner, just as the two parties broke ground on a $1.5 billion theme park in Entertainment City.
Landing International Development shares recovered some ground on Wednesday after an almost 30 percent plunge the prior day.
Hong Kong-listed Landing International Development opened its Shinhwa World theme park at the end of September, as IR projects for the honeymoon island forge ahead despite the uncertainty caused by a diplomatic spat with China and tensions with the North. Arrivals from the mainland have slumped and while operators may be confident they can pull in tourists from elsewhere, they may find it harder to fill casinos.