The provisional gaming licenses won\u2019t allow Landing to open their casino until at least 2022. That provision was designed to comply with a five-year ban on new casino permits that Pagcor announced just last year after the four existing operators in the country expressed concerns of oversupply in the local gambling market.<\/p>\n
The approval also came despite the fact that President Rodrigo Duterte ordered Pagcor to stop processing new applications this February, once again because of oversupply concerns.<\/p>\n
Landing is planning to build a multifaceted facility on a 23.5 acre plot near Manila Bay. In addition to the casino, the resort will feature a water park, two indoor theme parks, luxury hotels, and a convention center, along with retail and dining areas.<\/p>\n
The resort will be known as NayonLanding. Nayon means \u201csmall village\u201d in Tagalog, one of the two official languages of the Philippines (along with English). Landing announced that ground breaking on the facility will begin on August 7.<\/p>\n
\u201cThis investment is an ideal opportunity for us to strategically expand Landing\u2019s footprint into Southeast Asia, hence taking a major step toward Landing International\u2019s aspiration to be a leading premium integrated resort operator in the region,\u201d Landing Chairman Yang Zhihui said in a press release. \u201cNayonLanding will be able to leverage on the growing brand equity in Jeju Shinhwa World to attract more Koreans and tourists in the region to visit the Philippines.\u201d<\/strong><\/p><\/blockquote>\nIn filings with the Hong Kong Stock Exchange, Landing International revealed that the current license is valid for 15 years, with the regular license that should follow the provisional approval ending in July 2033. At that point, the regular license could be renewed by Pagcor.<\/p>\n
Those filings also revealed that the resort would have a gaming area of about 300,000 square feet, though the number of table games and slot machines had not yet been determined. Internet gaming and video streaming would not be allowed \u201cunless otherwise consented to by Pagcor.\u201d<\/p>\n