Macau Legend revenue down 70% in 2020

Macau Legend was impacted heavily by the Covid-19 pandemic.
Macau Legend was impacted heavily by the Covid-19 pandemic.

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).

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Covid-19 land-based casino Macau legend