Landing International Development casino operator reported they are investigating the loss of some $13.4 million from Jeju.
Landing International Development the South Korean casino operator has reported they are investigating the loss of some $13.4 million in funds that was kept in reserve in Jeju their South Korean holiday island resort.
Jeju is a foreigner only casino resort and according to reports the company cannot contact the employee in charge of looking after the fund.
In a filing to the Hong Kong Stock Exchange Landing International said, “it had immediately reported the incident to the police in South Korea and they are currently investigating.” The statement went on to say, “the board is currently gathering information in relation to the incident and is still investigating the matter.”
This latest news is a major blow to the company following its recent half year report in August 2020 showing a net loss of $102.2 million.
Landing International Development Limited is an experienced developer and operator of world-class integrated leisure and entertainment resorts which offer various facilities including casinos, luxurious hotels, convention centres, theme parks and attractions, international catering, retails and property development.
Situated on Jeju Island of South Korea, Jeju Shinhwa World is the Group’s flagship integrated leisure and entertainment resort with its grand opening on 22 March 2018.
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