Macau Legend Development

    Website: http://www.macaulegend.com/

    Macau Legend Development was incorporated under the laws of the Cayman Islands on 5 October 2006. The company acts as an investment holding company and is one of the leading owners of entertainment and casino gaming facilities in Macau. The Group has two major properties, The Landmark Macau and Macau Fisherman’s Wharf. The Landmark Macau is an award-winning integrated hotel, casino and luxury shopping complex, featuring a five-star hotel and Macau’s first themed casino. MFW is a waterfront integrated gaming, hotel, convention and entertainment complex located on the outer harbour of the Macau Peninsula which follows the “Leisure, Tourism, Economic and Multi-Cultural Diversification” policy of the government of the Macau Special Administrative Region of the PRC.Macau Legend is currently also in th process of acquiring the Savan Vegas Hotel and Casino in Laos.

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    Cape Verde IR to complete by end-2020

    The Macau Legend Group is planning to complete its Cape Verde hotel and casino complex by the end of 2020, local media reports. According to the presentation by the group in August, picked up by Lusa, the “first phase is expected to complete in 2020”. A bridge has been constructed between Santa Maria and Gamboa […]
    Macau Fisherman's Wharf

    Macau Legend warns of H1 loss

    Macau Legend said it expects to post a loss in the six months to end June, compared with a profit the year earlier, as gains from the sale of a unit won’t be repeated.

    Macau Legend eyes SE Asia expansion

    Macau-based casino operator Macau Legend is eyeing further expansion in Laos and is interested in projects in Cambodia and Vietnam as tourism traffic to Southeast Asia grows and transport infrastructure improves.

    Fraudulent website imitating Macau Legend found

    Macau Legend Development has warned the public of a fraudulent website purporting itself as being affiliated with the company. The fraudulent website’s internet address includes the words “vip” and “mclegend”, and also contains certain information in relation to its background, corporate information, operation and the lottery game that it runs. These materials make references to […]
    Macau Fisherman's Wharf

    Macau Legend says impairment charge due to underperformance at MFW

    Macau Legend has provided more information as to why it took an impairment charge of HK$681.9 million ($86.9 million) in its 2018 results, saying it was mostly due to slower-than-expected performance at its Macau Fisherman’s Wharf property.

    Macau Legend swings to profit in 2018, on Landmark disposal

    Macau Legend’s disposal of The Landmark Macau in 2018 helped the group swing to profit in 2018, despite only slightly increasing revenue in the year. Said profit reached HK$1.97 billion (US$250.9 million) in 2018, compared to a loss of HK$507.3 million in 2017. The company reported recovering gaming performance in the year, increasing 12.2 percent […]

    Legend Palace drives Macau Legend 18H1 profit

    Macau Legend, the company behind Legend Palace Casino in Macau, swung to a profit of HK$2.9 billion (US$369.4 million) in the first half of 2018 on a gain on disposal of a subsidiary, recovering gaming performance and streamlined expenses. For the six months ended June 30, 2018, gaming revenue of the group increased by approximately […]

    Macau Legend sees H1 profit

    Macau Legend Development said it expects to post a profit in the first half of 2018, boosted by the sale of New Macau Landmark Management.

    Macau Legend seeks Laos, Cambodia expansion

    Macau-based Macau Legend Development plans to enter Cambodia and wants to expand its property in Laos, local media reports.

    Macau Legend completes Landmark disposal

    Hong Kong-listed Macau Legend Development Limited has completed its 100 percent disposal of New Macau Landmark Management (NML), the company behind Landmark Macau. The company first entered into a disposal agreement for the casino in November last year, with a sale price of HK$4.6 billion (US$590 million) in cash. The buyers included four independent Macau […]

    Macau Legend revises height for Legendale Hotel

    Macau Legend Development has changed the height limit for its new hotel on Fisherman’s Wharf following public outcry, Macau TDM reports. The company, which is developing the Legendale Hotel on the wharf, had previously proposed a building height limit of 90 meters. However, public concern over the potential obstruction of the view of the Guia […]

    Macau Legend expects widened loss in 2017

    Macau Legend Development says it expects to record an 85 percent increase in net loss for the year ended December 31, 2017, attributed to depreciation, financial and impairment costs. The depreciation costs relates to its operation of Legend Palace Hotel since early 2017, while the increase in finance costs are due to the cessation of […]

    Macau Legend offloads Landmark Macau for HK$4.6 billion

    Macau Legend Development has entered into a disposal agreement for its entire equity interest in New Macau Landmark Management Ltd, the owner of The Landmark Macau casino and hotel. The sale price amounts to HK$4.6 billion (US$590 million) in cash. According to a company filing to the Hong Kong Stock Exchange, the buyers include four […]

    Cape Verde project hits local snag

    Construction of Macau Legend’s Cape Verde integrated resort may face delays due to the revamp of the island settlement where the project will be developed, Macau Business reports. According to Nuno Miguel Melo Furtado, the African country representative at the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (Forum Macau), the delay […]

    Macau Legend loss widens in first half of year

    Macau Legend Development saw its loss widen in the six months ended June 30, 2017, due mainly to an increase in operating and finance costs, and depreciation following the opening of Legend Palace Casino and Hotel. The loss for the six month period reached HK$228.6 million (US$29.2 million), an increase of HK$53.3 million compared to […]

    Macau Legend receives LOI for Landmark sale

    Macau Legend Development Ltd has received a letter of intent from an “independent third party” for the sale of its Landmark Macau casino hotel, according to a filing to the Hong Kong Stock Exchange.   The exact amount of the consideration for the hotel casino is yet to be negotiated by the parties. Macau Legend […]

    Macau Legend posts slightly widened loss in 2016

    Macau Legend Development Ltd. reported a loss of HK$277.5 million (US$35.7 million) for the year ended Dec. 31, 2016, according to the group’s filing to the Hong Kong Stock Exchange on Wednesday. The result is slightly widened from HK$268.5 million incurred in the year ended Dec. 31, 2015. The group said the loss was mainly […]

    Legend Palace locks in Feb. 27 opening

    Macau Legend Development has confirmed its plans to launch its newest property, Legend Palace Hotel, on February 27, according to chairman and CEO David Chow Kam Fai. Speaking to local reporters on the weekend, Chow said the company will also be looking to apply for more gaming tables from the government in the future, depending […]

    Legend Palace gets 15 new tables

    The newest casino hotel in Fisherman’s Wharf has been granted 15 new mass market gaming tables from the Macau government, local media reports. Developed by Macau Legend Development Ltd., The Legend Palace Hotel is expected to open at the end of the month. The facility is located at the end of the Fisherman’s Wharf complex […]

    Legend Palace to start trial operations mid-Jan

    Legend Palace Hotel will start trial operations in mid-January, just before Chinese New Year, according to Macau Legend Development co-chairman and chief executive officer David Chow. The hotel development, which is the latest project by Macau Legend Development Ltd., is located at the end of the Fisherman’s Wharf complex on the Macau Peninsula. The new […]

    Savan Vegas boosts Macau Legend’s Q3 results

    Macau Legend Development reported a modest rise in revenue in the third quarter of 2016, according to its recent filing to the Hong Kong Stock Exchange. Total reported revenue increased by approximately 1.9 percent to HK$377.6 million in the quarter. Gaming revenue increased by 12 percent to approximately HK$257.1 million in the quarter, while non-gaming […]

    Macau Legend H1 net loss doubles, but remains upbeat on outlook

    Gaming services firm Macau Legend Development Ltd’s net loss for the first half of 2016 has more than doubled. In a filing to the Hong Kong Stock Exchange on Thursday, the firm saw net loss of HK$175.3 million ($22.6 million) in 16H1, compared to HK$68.4 million for the prior-year period. The group achieved total revenue […]

    Savan Vegas gets $400 million bid from consortium

    A European-Asian consortium has made a cash counter-offer of $400 million to acquire the assets and gaming concession of Savan Vegas Casino and Hotel Entertainment Complex in Laos, local media reports. The consortium is led by Werner Kubesch and is backed by a European casino operator and one of the world’s largest hospitality groups. The […]

    Sale of Savan Vegas now extended to end of August

    The sale of Savan Vegas Hotel and Entertainment Complex to Macau Legend Development has reportedly been extended to the end of August. Earlier this week, Macau Legend said the deal would be further delayed until the end of the week, “as additional time is required to finalize the information and update the progress of the […]

    Macau Legend executive vice president resigns

    Casino operator Macau Legend Development Ltd has announced the resignation of its executive vice president, chief financial officer and company secretary Chan Kin Man, with effect from July 1, 2016. Chan’s position will be replaced by Lawrence Yuen Chin Yau, according to a filing to the Hong Kong Stock Exchange. Mr. Yuen, aged 50, has […]

    Macau Legend to announce a resort in Portugal

    Gaming operator Macau Legend is reportedly planning a US$222 million resort in Setubal, Portugal. The company will be signing an agreement with the city’s government for the construction of a hotel, marina, residences and commercial spaces in the town on Thursday – with more details of the upcoming project to be announced later in the […]

    Savan Vegas deal delayed further

    HK-listed Macau Legend Development Ltd says it has postponed the despatch date of a circular in relation to the Savan Vegas Hotel and Entertainment Complex in Laos. In a filing to the Hong Kong Stock Exchange, the company said “additional time is required to finalise the information in the Circular, including the financial information and […]

    Macau Legend cleared of illegalities regarding Cape Verde development

    The Cape Verde General Prosecutor’s Office has cleared Macau Legend from accusations that its project did not comply with legal requirements, Lusa reports. The prosecutor’s office found no sign of illegality involving the US$282.3 million resort planned by Macau Legend. The probe was initially launched after a petition by the former chairman of the Cape […]

    Macau Legend reports 52.2 percent decrease in EBITDA in 16Q1

    Macau Legend Development Ltd reported a 52.2 percent year-on-year decrease in adjusted EBITDA for the first quarter of 2016, according to a recent filing to the Hong Kong Stock Exchange. The casino services company saw total revenue down 3.7 percent to HK$350.6 million (US$45.2 million) from approximately HK$242.1 million in Q1 2015. “All gaming segments […]

    Macau Legend to operate Savan Vegas

    Casino services firm Macau Legend Development Limited has announced it has entered into a project development agreement with the Laos government to purchase the Savan Vegas Hotel and Entertainment complex. According to a filing from the firm to the Hong Kong Stock Exchange on Monday, the Lao government agreed to sell the project at the […]

    RGB consortium among the shortlisted bidders for Savan Vegas Hotel

    A consortium consisting of RGB International, RGB Macau Ltd, together with consortium members Datuk Chuah Kim Seah and Ung Chi Fong has announced it has been shortlisted to bid for the acquisition of Savan Vegas Hotel, a casino resort in Laos, local media reports. The Malaysia-headquartered gaming machine manufacturer said its subsidiary had been qualified […]

    Government to evaluate environmental impact of Macau Legend hotel

    Macau Legend Development Ltd’s chief executive, David Chow Kam Fai, says the Macau government is still evaluating the height limit of his Fisherman’s Wharf project, which has proposed a new hotel at 90 meters tall, TDM reports.  Chow says the government will likely commission an independent assessment on the environmental impact of the project. “Building […]

    Macau Legend begins construction of Cape Verde casino resort

    Construction of Macau Legend Development Ltd’s casino resort in Cape Verde has begun, according to local media. David Chow Kam Fai, Macau Legend chief executive officer, said at the groundbreaking ceremony that the project is a landmark in cooperation between Cape Verde and China, TDM reports. In July, 2015, a subsidiary of Macau Legend Development […]

    Macau Legend GGR down 59.1 percent in 15Q3

    Macau Legend reported total gross gaming revenue from tables decreased by approximately 59.1 percent to HK$665.1 million ($85.8 million) in 15Q3 from the corresponding period in 2014. The company said decreases included a 41.5 percent decline to HK$245.7 million from mass market tables at Pharaoh’s Palace Casino and a drop of 8.9 percent to approximately […]

    Macau Legend revenue drops 23.9 percent in 15H1

    Macau Legend reported total revenue of approximately HK$698.2 million for the six months ended 30 June 2015, representing a decrease of 23.9 percent. The company’s gaming revenue and non-gaming revenue decreased by 31.3 percent to HK$449.9 million and by 5.4 percent to HK$248.3 million, respectively, year-on-year. The decline in gaming revenue was primarily due to […]

    Macau Legend, Cape Verde sign agreement for resort

    A subsidiary of Macau Legend Development Ltd and the government of Cape Verde have signed an agreement to build a casino resort in the Cape Verde capital, Cidade da Praia on Santiago Island. MLD CV Resorts Co has agreed to construct and operate hotel and tourism facilities, serviced apartments, villas, a marina and multi-function convention […]

    Macau Legend finalizing Cape Verde discussions

    Macau Legend Development announced that the company is finalising discussions with the government of Cape Verde for an investment of approximately €250 million ($273 million) for an integrated resort. The casino services firm said in a filing that no agreement has been made yet but it is intended that one will be signed after trading […]

    Macau Legend warns of six-month loss

    Macau Legend Development said it expects to record a year-on-year loss for the six months ended 30 June 2015, without giving specific numbers.  The expected loss is mainly attributable to a decrease in revenue from the company’s gaming services due to a decrease in overall gross gaming revenue; an increase in overall operating expenses, particularly […]

    Macau Legend reports a 21.1 percent decrease in revenue

    Macau Legend Development reported a 21.1 percent decrease in revenue for the first three months of 2015 compared to the same period the year before. The casino services firm, which is redeveloping Macau Fisherman’s Wharf, announced revenues dropped to HKD364.2 million ($47 million) during the period, down from HKD461.4 million in the 14Q1. Total gross […]

    Macau Legend’s Harbourview Hotel opens

    The Harbourview Hotel, with 389-rooms and modeled on 18th century Prague architecture, has opened in Macau, marking the first of several non-gaming related projects planned for this year. The 4-star hotel, owned by Macau Legend Development and costing about $193 million, is connected to the Flamingo Casino slot hall, and Babylon Casino, which features 35 […]
    Bangkok, Thailand

    Operators eye Thai potential

    Thailand’s ongoing ban on all forms of gambling is proving a gold mine for casinos elsewhere in the region, with a growing number taking steps to specifically target the Thai VIP base. 

    Indochina opportunities clouded by political, economic risks

    Despite regulatory uncertainty and a relatively high risk profile, land-based operators will be closely watching developments across the Indochina region over the coming months.

    Macau Legend sees major Laos potential, others sceptical

    Macau Legend has big plans for Laos after its $42 million purchase of Savan Vegas, but the Laos market remains volatile and somewhat hostile to foreign investment. Laos hit the headlines last year when the government put Savan Vegas out for bids having seized the resort from its foreign owners, Sanum Investments, over alleged tax liabilities. The sale generated interest from six buyers, including Macau junket promoter Iao Kun Group and casino operator Macau Legend.

    Hengqin projects take shape as Macau looks for a crowd-puller

    A Macau casino company CEO recently told a group of investors, “Hengqin is the most underreported story about Macau.”While many in the gaming and hospitality industries increasingly take note of Hengqin’s future plans, projects are beginning to rise from its ground. Cratered construction sites of a Cotai magnitude, along with extensive underground infrastructure, reveal the subterranean clues of projects yet to come. Many analysts and industry observers see the development of the island’s tourism facilities as being the real game changer for Macau as it tries to transform itself into a mass market leisure destination.  
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