Macau Legend posts net loss of US$19.55m for H1

Revenue was up 16.54 per cent at HK$390.4m (US$50m).

Macau.- Macau Legend Development has shared its financial results for the year’s first half. It posted a net loss of HK$152.47m (US$19.55m), down from HK$182.5m (US$23.3m) in the first half of 2023. Revenue was up 16.54 per cent at HK$390.4m (US$50m).

Gaming revenue was up 43.7 per cent year-on-year to HK$208.51m (US$26.74m). As of June 30, 2024, the group had 33 gaming tables in operation in Macau, the same as in June 2023. The games drop was up 26.4 per cent year-on-year at HK$2.17bn (US$278m), with net win up 45.1 per cent at HK$379.11m (US$48.6m).

Non-gaming revenue was down 4.2 per cent year-on-year at HK$181.9m (US$23.31m). Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) reached HK$85.32m (US$10.94m), an improvement on a HK$52.21m (US$6.7m) in the first half of 2023.

The company said it will continue to “execute its strategies to get better equipped to seize opportunities and to overcome challenges” and that “resources will continue to be allocated to optimise the facilities of the Macau Fisherman’s Wharf to enhance the exclusive experience in the waterfront complex, as well as its flexibility to host large-scale events.”

In May, the company completed the sale of its Savan Legend Resorts casino in Savannakhet, Laos. The buyer, Shundo Yoshinari, is a Japanese citizen residing in Japan and an independent third party. For full-year 2023, Macau Legend revenue was up 26.7 per cent year-on-year to nearly HK$901.6m (US$115m).