Claiming a warrant for Landing Int's file management bid

Chinese casino businessman Yang Zhihui has issued a "call letter" expressing his intention to file a civil lawsuit against those who say they are acting as custodians over a little more than half of the stake in the company controlling Hong Kong-listed Landing International Development Limited.

The news emerged in a filing after Hong Kong trading hours on Friday.

Landing International Development created a resort on Jeju Island in Korea with a foreigner-only casino called Jeju Shinhwa World. The facility's gaming space, Landing Casino, opened in February 2018.

On Nov. 5, the publicly traded company said in a filing that it had learned that the two were claiming control of a majority of shares in Landing International Inc., a British Virgin Islands vehicle. 안전한 카지노사이트

Landing International Inc. is the "final holding company" of Landing International Development, and Yang is the sole shareholder of the offshore company, according to Landing International Development's 2018 annual report filed on the Hong Kong Stock Exchange on April 29.

Mr. Yang, the company's chairman, told the company on Friday that "we have informed the company that a subpoena has been filed against each recipient as a plaintiff on the declaration that the act of appointment of the recipient is invalid."

"Further announcements will be made monthly by the company ...," the filing said, referring to some of the nation's stock exchange rules… The company's shareholders and potential investors will continue to update on the matter," he added

On Aug. 30 this year, Landing International Development reported a net loss of nearly HK$835.6 million ($167.7 million) as gaming revenue fell sharply in the first six months of 2019.

Landing International Development said it was given about six months to find an alternative site for a casino resort it had planned for in the Philippine capital of Manila in mid-September, or that a provisional gaming license for the Philippines would be cancelled or suspended.

Last week, the chief operating officer of the Philippine casino regulator told GGRAsia that the Philippines was at the G2E (Global Gaming Asia) @ Philippine Trade Fair in Manila, confirming that the group is now helping Landing International Group find new locations in Manila.