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Landing expects to record a profit in 2017

Landing International Development says it expects to record a profit for the year ended December 31, 2017, after posting a loss the year before.

In a filing to the Hong Kong Stock Exchange, Landing said the swing to profit is attributed to gains from the disposal of its interest in the Les Ambassadeurs Club, as well as gains related to a number of financial assets and investment properties.

The company is developing an integrated resort in Jeju,  offering a diverse range of world-class hospitality, leisure, entertainment and gaming facilities suited for visitors of different age groups.

Landing launched the first phase of Jeju Shinhwa World last year in April with the opening of Somerset Jeju Shinhwa World.

Earlier this month, it was reported that the company has been forced to delay the transfer of its casino on Jeju island to its new IR complex after protests from local residents.

The casino had been scheduled to move from the Hyatt Regency Jeju to Jeju Shinhwa World this month, but has failed to win approval for the move.

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