Philippines' Duterte to call off Landing's $1.5 bln casino project

Shin Hwa World

07/08/2018 07:57

MANILA, Aug 7 (Reuters) - Philippines President Rodrigo
Duterte will cancel Landing International Development Ltd's
 0582.HK  $1.5 billion integrated casino project in the capital,
his spokesman said minutes after the Hong Kong-listed firm broke
ground on Tuesday.  
    Presidential spokesman Harry Roque said the lease contract
that Landing signed with a state-owned foundation in March has
significantly put the government at a disadvantage because the
rental payment was "unconscionable".

 (Reporting by Neil Jerome Morales; Editing by Himani Sarkar)
 ((neiljerome.morales@thomsonreuters.com; +632 8418914; Reuters
Messaging: neiljerome.morales.thomsonreuters.com@reuters.net))