Inside Asian Gaming

October 2017 inside asian gaming 9 Landing International has announced plans to sell the prestigious Les Ambassadeurs Club in London to raise capital for completion of its Korean integrated resort Jeju Shinhwa World and pursue other opportunities in Asia. In a filing to the Hong Kong Stock Exchange, Landing International said it has entered into an agreement with Hong Kong businessman Paul Suen Cho Hung to purchase Jolly Champion Holding Limited – a wholly-owned subsidiary of the company and listed owner of Les Ambassadeurs Club – for a total of HK$2.5 billion. Les Ambassadeurs Club was originally purchased in December 2015 for £137 million (HK$1.4 billion). Landing International said the sale would raise around HK$500 million in working capital after loan repayments and represent a return on investment of 30% to 35%. Les Ambassadeurs Club, a historic VIP casino located in the London suburb of Mayfair, boasts 45 gaming tables offering baccarat, blackjack, three card poker and American roulette. In its filing, Landing International pointed to a need to direct further funds towards the completion of Jeju Shinhwa World and confirmed its intent to relocate Landing Casino from its current location within Hyatt Regency Jeju Hotel to its Korean project “as one of the core facilities within the resort.” “If the relocation plan is successfully Macau puts Typhoon Hato economic cost at MOP$11.5 billion Typhoon Hato has cost Macau almost MOP$11.5 billion in economic losses, including MOP$8.3 billion in direct losses, according to the government’s new Commission for Reviewing and Monitoring the Improvements of the Response Mechanism to Major Disasters. Macau Chief Executive and committee chairman Chui Sai On announced the figures at a press conference in which he outlined new measures aimed at improving Landing International to sell London VIP casino the city’s response mechanism in case of public emergencies, including the strengthening of infrastructure to resolve flooding issues and ensuring the stability of power and water supplies. The commission’s current estimation has total losses city-wide at MOP$11.47 billion and counting, with MOP$8.31 billion worth of direct losses and MOP$3.16 billion worth of indirect losses. The preliminary figures do not include the potential losses of Macau’s six gaming concessionaires due to the temporary closure of facilities. Two of Macau’s waterside properties, Legend Palace and Ponte 16, still have some gaming areas inactive as a result of damage caused by the storm. Typhoon Hato, which struck on 23 August, was the strongest recorded storm in Macau for 53 years and resulted in the deaths of 10 people, with another 240 injured. implemented, Landing Casino will become a casino seven times its present size (in terms of floor area) with over 150 tables and 185 slot machines,” it said.