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 gaming revenue of gaming tables decreased 53.8 percent year-on-year to HKD1.1 billion, while non-gaming revenue decreased by approximately 8.2 percent to HK$122.1 million in 15Q1.
The firm reported adjusted EBITDA of HKD74.9 million, down by 65.6 percent the year before.
Macau Legend is redeveloping the waterfront theme park – which includes two other hotels, an opera house and a yacht club, The company’s Harbourview Hotel, the first new hotel under the redevelopment of the wharf, had its grand opening on 11 February 2015.
“With design based on the 18th century Prague architectural style, Harbourview Hotel contributes an additional 389 rooms and 55 suites to the tourism market of the Macau Peninsula. The hotel is connected via footbridges to the adjacent Babylon Casino,” the company said in its filing.