• Group Revenue increased 360% to HK$1.8 billion
• Group EBITDA of HK$0.8 billion
• Group Net Profit increased 527% to HK$0.3 billion
• Appoints President for Group International Marketing and Business Development

(2 August 2018, Hong Kong) - Landing International Development Limited (“Landing International” or the “Company”, together with its subsidiaries, the “Group”, HKEx Code: 00582) is pleased to announce that for the six months ended 30 June 2018 (“FP 2018”), the Group achieved revenue of HK$1.8 billion, a significant increase of 360% over the revenue of HK$0.4 billion recorded in the corresponding period in 2017. 

Earnings before interest, taxation, depreciation and amortisation, adjusted for non-recurring income and expenses from the operating segments (“EBITDA”) for FP 2018 was HK$0.8 billion and the net profit for the period (“Net Profit”) was HK$0.3 billion, a significant jump of 527%.

The significant increase in the Group’s revenue, EBITDA and Net Profit for FP 2018 was mainly attributable to the significant increased revenue contribution from its gaming business in Jeju, South Korea following the relocation of its Landing Casino to Jeju Shinhwa World on 25 February 2018. For the period from 25 February 2018 to 30 June 2018, Landing Casino in Jeju Shinhwa World recorded a total rolling volume of approximately HK$66 billion from its customers.

Since the progressive opening of Jeju Shinhwa World in 2017, the resort has received many domestic visitors and foreign guests from the region including China, Hong Kong, Macau, Taiwan, Japan, Singapore, Malaysia and Thailand to its hotels, convention centre, attractions, food and beverage outlets and shopping mall. In April 2018, Somerset Jeju Shinhwa World was awarded “Guest Review Awards 2017” and “2018 Our Guests Rated Excellent” respectively by Booking.com and Hotels.com, which are global online accommodation booking websites. Jeju Shinhwa World Landing Resort was also accredited “2018 DAILY True Awards Best Hotel” by Daily Hotel, a leading accommodation booking platform in South Korea.

Dr. Yang Zhihui, Chairman and Executive Director of Landing International, commented, “Jeju Shinhwa World has a remarkable performance since its opening and it is a game changer in the industry.  We will line up more action and excitement for our guests in the second half of this year. Our Shinhwa Waterpark, the largest waterpark in Jeju and the first Transformers Autobots Alliance Exhibition in Korea, will open officially on 3 August 2018. These new attractions will complement the existing leisure and entertainment facilities in the resort, adding more colour and excitement to Jeju Shinhwa World. The team will continue to work tirelessly to ramp up the businesses and operations to strengthen Jeju Shinhwa World’s reputation as the largest family-oriented premium integrated leisure and entertainment resort in Northeast Asia.”

Beyond Korea, Landing International has also recently announced that its wholly owned subsidiary, Landing Resorts Philippines Development Corporation has been granted a provisional gaming license from Philippine Amusement and Gaming Corporation (PAGCOR) to operate a casino at an integrated leisure and entertainment resort within the Entertainment City in Barangay Tambo, City of Parañaque, the Philippines. The US$1.5 billion family-oriented integrated leisure and entertainment resort will consist of a casino, an indoor cultural theme park and waterpark featuring the Philippines’ rich history, culture and heritage, Asia’s first and largest indoor movie-based theme park, a world-class state-of-the-art convention centre, luxury hotels and international retail and dining. The ground-breaking ceremony is scheduled to be held on 7 August 2018 and it is expected to be completed and open in early 2022.

Landing International is also pleased to inform that it has appointed Ms Lee Kim Lian, Mabel as President, Group International Marketing and Business Development. Mabel shall be responsible for all aspects of the Group’s international marketing and business development of its integrated resorts. Mabel is a pioneer and industry veteran with more than three decades of relevant experience in the industry. She had previously held senior management positions with global companies including Caesars Palace, Las Vegas Hilton, MGM Mirage, Wynn Resorts and Resorts World Sentosa.

Dr. Yang commented, “We would like to extend a warm welcome to Mabel to our Landing family. Mabel joins us at an appropriate time as we seek to develop our integrated resorts business in Korea and the Philippines, whilst continuing to seek suitable opportunities in the region. With her extensive experience and knowledge in the industry, she will be a tremendous addition to our management team as we aspire to become a premium integrated resort operator in the region.”

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