Inside Asian Gaming

SEPTEMBER 2018 INSIDE ASIAN GAMING 45 any international design companies, I chose a local firm to help us because I want this resort to be a showcase of local talent in the Philippines.” The biggest question right now remains whether Landing will have anything to showcase at all. Despite being issued a provisional casino license by Philippines gaming regulator PAGCOR two weeks before its Manila groundbreaking ceremony, President Duterte has promised to prevent any such News of Dr Yang’s arrest appeared to take Landing by surprise. Asked for confirmation, the company said only, “It is confirmed that the company has been unable to contact or reach Mr Yang Zhihui. The company is making attempts to contact Mr Yang.” It added that day-to-day business operations would continue as usual under its COO Jay Lee and CFO David Hoon. “We do not expect that the temporary absence of Mr Yang would have any material adverse impact on the daily business operations and financial positions of the group,” Landing said. Dr Yang holds a 50.48% stake in Landing through his own wholly- owned company. AS IAG WAS PREPARING TO GO TO PRINT WITH THIS September edition, news broke that Landing International Development Limited Chairman Dr Yang Zhihui had been detained by authorities in Cambodia. Dr Yang was reportedly taken into custody in Phnom Penh on Thursday 23 August in relation to his business links to China’s state- owned Huarong International Financial Holdings Ltd, whose former head is being investigated in a graft probe. Earlier that day, Landing had suspended trading after its stock price plummeted 35% from HK$5.60 to HK$3.71 in less than two hours. Landing Chairman detained in Cambodia circumstance via a nation-wide moratorium on new casinos. Yet, asked about the criticism of Duterte and others, Landing is sticking to its guns. “It’s only normal for critics to question what we are planning to do,” says Lee. “For me the important thing is to educate and let the audience follow in order to understand what we are trying to do with this project. “Once you understand, we want you to be the judge.” FEATURES