(8 September 2017, Hong Kong) Landing International Development Limited (“Landing International” or the “Company”, HKEx Code: 00582) announced that the Company is selling Les Ambassadeurs Club in Mayfair, London to an independent third party for a total consideration of HK$2.5 billion. The Company acquired Les Ambassadeurs Club at approximately £131 million (approx. HK$1.48 billion) in April 2016. The transaction will further enhance the Company’s cash flow and allow the Company to focus its resources to develop “Jeju Shinhwa World”, the world-class integrated leisure and entertainment resort in Jeju, Korea, while remaining in a good position to invest in any opportunities with good prospects of growth and profitability in other emerging markets in Southeast Asian regions. 

Dr. Yang Zhihui, Chairman and Executive Director of Landing International Development Limited, said, “The leisure and entertainment industry in Southeast Asian markets has high potentials with ample business opportunities. The vibrant economy in the region has created an affluent of tourists demanding for high-quality leisure and entertainment experience to visit world-class tourism destinations in various regions. We are currently developing the first large-scale iconic luxury leisure and entertainment destination resort “Jeju Shinhwa World” in Jeju, Korea. Opening of Jeju Shinhwa World has commenced in stages since April 2017. At the same time, we are looking for opportunities to diversify into emerging markets in Southeast Asia by investing in projects with high growth potential and favorable investment terms, including seeking out opportunities in the Philippines, so as to establish “Landing” into a renowned leisure and entertainment brand.”

Les Ambassadeurs Club is operated pursuant to the operating licenses and a casino premises license issued under the Gambling Act 2005 by the City of Westminster. The Club provides 45 gaming tables offering a variety of games including American roulette, baccarat, blackjack, three card poker.

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