Revenue was down 22.7 per cent year-on-year to HK$420.2m (US$53.5m).<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Macau Legend Development\u00a0<\/strong>has shared its financial results for the year’s first half. It\u2019s reported that revenue was down 22.7 per cent year-on-year at HK$420.2m (US$53.5m). The company posted a net loss of HK$182.5m (US$23.3m).<\/p>\n\n\n\n Gaming revenue fell 49.2 per cent year-on-year <\/strong>to HK$228.2m (US$29.1m). Its gaming table count in Macau dropped from 190 to 33 in the period. It also has 17 mass-market gaming tables and 12 VIP tables at its Laos casino resort.<\/p>\n\n\n\n However, non-gaming revenue rose by 103.2 per cent year-on-year to HK$192m. This growth was attributed to increased revenue from hotel room operations following an increase in tourist numbers since travel restrictions eased in January.<\/p>\n\n\n\n Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) reached HK$103.8m (US$13.2m) in the first six months of 2023, an improvement on a HK$160.5m (US$20.5m) EBITDA loss in the prior-year period.<\/p>\n\n\n\n In June,\u00a0Macau Legend Development\u00a0<\/strong>announced its intentions to\u00a0sell its entire interest in Savan Legend Resorts Hotel and Entertainment Complex<\/a>\u00a0in Laos for the sum of US$45m.\u00a0The group said the decision was made due to the\u00a0unstable financial performance and increasing restrictions<\/strong>\u00a0faced by the gaming and hotel business in Laos.\u00a0<\/p>\n\n\n\n For 2022, Macau Legend<\/a> reported that revenue was down 37.3 per cent when compared to the previous year<\/a>, to nearly HK$711.6bn. However, its loss fell by 48 per cent to negative HK$607.2m (US$77.35m) due to an impairment loss for overseas projects in Cape Verde in 2021.<\/p>\n","protected":false},"excerpt":{"rendered":" Revenue was down 22.7 per cent year-on-year to HK$420.2m (US$53.5m).<\/p>\n","protected":false},"author":176,"featured_media":12213,"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 reported a 22.7% year-on-year revenue decline to HK$420.2m (US$53.5m) for H1 2023, resulting in a net loss of HK$182.5m (US$23.3m), primarily due to a 49.2% fall in gaming revenue. Despite this, non-gaming revenue surged by 103.2% and adjusted EBITDA turned positive at HK$103.8m (US$13.2m), while the company announced the divestment of its Laos casino resort for US$45m citing operational instability and increasing restrictions.","focusai_entities":"Macau Legend Development, Savan Legend Resorts Hotel and Entertainment Complex","focusai_location":"Macau, Laos, Cape Verde","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Laos Divestment Rationale","query":"What specific \"increasing restrictions\" in Laos led Macau Legend Development to divest Savan Legend Resorts, and how might this impact other operators in the region?"},{"label":"Macau Gaming Table Strategy","query":"Given the drastic reduction in Macau gaming tables from 190 to 33, what is Macau Legend Development's long-term strategy for its core Macau gaming operations under the new concession framework?"}],"footnotes":""},"categories":[16338,163],"tags":[22593],"class_list":["post-777008834","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-macau-legend"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008834","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=777008834"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008834\/revisions"}],"predecessor-version":[{"id":777008860,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008834\/revisions\/777008860"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/12213"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777008834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777008834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777008834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}