Chinese companies betting big on island casino investment

Several Chinese listed companies have announced plans to enter the gambling industry through offshore investment.

Chinese Strategic Holdings Ltd, formerly called China Railway Logistics Ltd, a property developer based in Hong Kong, announced on Wednesday in a filing with the Hong Kong Stock Exchange that the company is set to invest HK$1 billion ($128.9 million) in a hotel and casino land lease in the Northern Mariana Islands.

Another Hong Kong-listed company, Landing International Development, announced its plans last Friday to build a resort and casino on South Korea's Cheju Island in a joint venture with Malaysian gambling giant Genting Group. The total investment is $2.2 billion.