BREAKING NEWS
This content is not available in your region

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

Philippines' Duterte to call off Landing's $1.5 billion casino project
Philippine President Rodrigo Duterte delivers his State of the Nation address at the House of Representatives in Quezon city, Metro Manila, Philippines July 23, 2018. REUTERS/Czar Dancel   -   Copyright  CZAR DANCEL(Reuters)
Text size Aa Aa

MANILA (Reuters) – Philippines President Rodrigo Duterte will cancel Landing International Development Ltd’s <0582.HK> $1.5 billion (£1.16 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)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.