{"id":19649,"date":"2021-06-30T16:56:38","date_gmt":"2021-06-30T16:56:38","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=19649"},"modified":"2026-04-23T18:04:43","modified_gmt":"2026-04-23T21:04:43","slug":"macau-legend-seeks-solution-for-cambodia-land-transfer","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-legend-seeks-solution-for-cambodia-land-transfer","title":{"rendered":"Macau Legend seeks solution for Cambodia land transfer"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Macau legend plans to build an IR in Cambodia but the acquisition of the site has been delayed due to the Covid-19 pandemic.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Macau.-&nbsp;<strong>Macau Legend Development&nbsp;<\/strong>has issued an update on the situation regarding its attempts to acquire a plot of land located in Siem Reap Province, Cambodia.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In December 2018, Macau Legend acquired the entire issued share capital of&nbsp;<strong>Howing Enterprises Co. Ltd<\/strong>, which held 1,200 hectares in Siem Reap, in order to <strong>develop an integrated resort.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company says the&nbsp;<strong>transfer of the land was delayed due to the Covid-19 pandemic<\/strong>. The transfer was most recently due to complete by June 26 2021, but this didn&#8217;t happen.&nbsp;<strong>Macau Legend is now negotiating with the seller&nbsp;<\/strong>to seek an amicable solution.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-legend-revenue-down-70-in-2020\" rel=\"noreferrer noopener\">The company<\/a><strong>&nbsp;<\/strong>reported revenue of HK$700.7m (US$90.2m) for the year ending December 31,&nbsp;<strong>a 70 per cent drop from the previous year<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Macau Legend&nbsp;<\/strong>reported a combined decrease in&nbsp;<strong>gaming revenue of around HK$1.37bn (US$176m)<\/strong>&nbsp;compared to 2019.&nbsp;<strong>Adjusted EBITDA fell 217.4 per cent in 2020<\/strong>&nbsp;to a loss of HK$429.3m (US$55m).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In May,&nbsp;<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-legend-unsure-of-quick-return-to-positive-ebitda\">Melinda Chan Mei Yi<\/a>, Macau Legend\u2019s executive director, said it remained difficult to<strong>&nbsp;<\/strong>predict the company\u2019s prospects due to the Covid-19 situation in Asia.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Macau legend plans to build an IR in Cambodia but the acquisition of the site has been delayed due to the Covid-19 pandemic.<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau Legend Development's integrated resort project in Siem Reap, Cambodia, faces significant delays in land acquisition, primarily attributed to the Covid-19 pandemic. This update follows a substantial 70% revenue drop and a 217.4% decline in Adjusted EBITDA for the year ending December 31, reflecting broader pandemic-induced operational challenges across its gaming verticals. The company is now negotiating an amicable solution for the delayed land transfer.","focusai_entities":"Macau Legend Development, Howing Enterprises Co. Ltd, Melinda Chan Mei Yi","focusai_location":"Macau, Cambodia, Siem Reap Province, Asia","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Cambodia IR Outlook","query":"What specific contractual clauses are being renegotiated between Macau Legend Development and Howing Enterprises Co. Ltd regarding the Siem Reap land transfer, and what is the revised timeline for resolution?"},{"label":"Financial Impact Analysis","query":"Beyond the reported revenue and EBITDA declines, what is Macau Legend Development's current liquidity position and debt covenants, and how might the prolonged Cambodian IR delay impact its capital expenditure projections for the next fiscal year?"}],"footnotes":""},"categories":[157,16338],"tags":[22593],"class_list":["post-19649","post","type-post","status-publish","format-standard","hentry","category-business-news","category-east-asia-news","tag-macau-legend"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19649","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=19649"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19649\/revisions"}],"predecessor-version":[{"id":19667,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19649\/revisions\/19667"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=19649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=19649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=19649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}