Macau Legend Development has reported a loss of US$252m in 2020 due to a decrease in the number of visitors to Macau and Laos.
Macau.- Macau Legend Development has reported revenue of HK$700.7m (US$90.2m) for the year ending December 31, a 70 per cent drop from the previous year.
The casino operator, which runs three casinos in Macau, said the decrease in gaming revenue was primarily due to the Covid-19 pandemic and related countermeasures, which negatively impacted on the group’s casinos.
Macau Legend reported a combined decrease in gaming revenue of around HK$1.37bn (US$176m) compared to 2019. Adjusted EBITDA fell 217.4 per cent in 2020 to a loss of HK$429.3m (US$55m).
Legend Palace Casino contributed HK$689.6m (US$89m) while Babylon Casino reported revenue of HK$87.9m (US$11m). Savan Legend Casino contributed approximately HK$186.3m (US$24m).
Macau casino operators hope tourism will increase in the coming months. During the 20 first days of March, Macau’s gross gaming revenue (GGR) reached MOP5.85bn (US$731.3m).