AGRIBUSINESS firm Calata Corp. and its Macau-based partners are behind schedule on their joint-venture project to build a casino-resort and hotel complex in Lapu-Lapu City, Mactan Island after their candidate for a casino operating partner backed out due to “perceived political risks and other issues” in the Philippines.
From a previous opening schedule of mid-2020, the Mactan Leisure City (MLC) development will be deferred as the third-party joint-venture partner of Calata and Macau-based Sino group has worries about investing in the Philippines, RiskWise Global Capital Inc. told the Philippine Stock Exchange (PSE).
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