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

Reuters

MANILA, Aug 7 (Reuters) - Philippines President Rodrigo Duterte will cancel Landing International Development Ltd's $1.5 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)