Macau Legend estimates US$63m losses for H1

Macau Legend has revealed financial results showing losses for the first half of the year due to the impact of the pandemic on tourism to Macau.

Macau.- Gaming company Macau Legend Development has estimated it will report HK$490 million (US$63.2 million) in unaudited consolidated loss for the first half of the year.

That compares to HK$107 million (US$13 million) in losses in the same period last year.

The drop is attributed to the decrease in revenue owing to travel restrictions and other Covid-19 measures.

The pandemic has severely impacted arrivals to Macau and Laos in the first half of 2020, with tourism still suffering.

The company is currently developing a resort in Cape Verde, but the government there indicated this month that the pandemic would delay completion.