Pagcor heeds Duterte’s order to junk Landing’s corruption-tainted casino deal
The provisional license they got won’t be enough to get them through this blunder.
The Philippine Amusement and Gaming Corporation (PAGCOR) has spoken up about the cancellation of the $1.5-billion integrated casino project of Landing Resorts Philippines Development Corporation.
“Being an agency under the Office of the President, PAGCOR reaffirms its commitment
and readiness to support the policies and pronouncements of the President pertaining
to the country’s gaming industry,” PAGCOR said in a statement.
The Hong Kong-based casino operator broke ground on their casino complex in Manila on Tuesday, Aug. 7, but this was hounded by an announcement from Malacañang that the deal is botched after a spurious lease deal forged with the Nayong Pilipino Foundation.
President Rodrigo Duterte called off the deal amid reports that the lease agreement was “grossly disadvantageous” to government.
The Landing complex involves building hotels, a convention center, water parks and gambling areas by 2022.
PAGCOR said that while Landing has secured a “provisional license” from them, it was largely dependent on complying with all legal requirements, particularly “the presence of a valid lease contract” for the planned heritage theme park-slash-casino at the Entertainment City, aka the Philippines’ own Macau.