Macau Legend unsure of quick return to positive EBITDA

Macau Legend revenue was down 70 per cent in 2020.
Macau Legend revenue was down 70 per cent in 2020.

Melinda Chan Mei Yi, Macau Legend’s executive director, has said it remains difficult to forecast a return to positive EBITDA amid uncertainty around the Covid-19 pandemic.

Macau.- Macau Legend‘s executive director, Melinda Chan Mei Yi, has said it remains difficult to predict the company’s prospects due to the Covid-19 situation in Asia.

Macau Legend reported adjusted EBITDA for 2020 down 217.4 per cent year-on-year to a loss of HK$429.3m (US$55m). Revenue was down 70 per cent.

Gross gaming revenue (GGR) has reached almost half of pre-pandemic levels. the Babylon Casino, a gaming facility at Macau Fisherman’s Wharf, has reached between 30 per cent and 40 per cent of 2019 levels.

Chan Mei Yi said social distancing on the gaming floors continued to affect gaming revenue as there are only 110 gaming tables operating at Legend Palace and Babylon Casino.

However, Macau Legend saw positive signs during the Labour Day break with a hotel occupancy of 100 per cent and an improvement in gaming earnings.

The casino operator is still planning to redesign it Fisherman’s Wharf complex. Mei Yi said the company will seek approval as soon as the design plan is complete.

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