{"id":777009941,"date":"2023-10-06T06:50:32","date_gmt":"2023-10-06T09:50:32","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777009941"},"modified":"2026-04-22T17:24:20","modified_gmt":"2026-04-22T20:24:20","slug":"macau-legend-to-halt-gaming-projects-in-cambodia-and-cape-verde","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-legend-to-halt-gaming-projects-in-cambodia-and-cape-verde","title":{"rendered":"Macau Legend to halt gaming projects in Cambodia and Cape Verde"},"content":{"rendered":"\n<p>Macau Legend has announced plans to exit the overseas projects by 2025.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.-\u00a0Macau Legend Development\u00a0has announced plans to divest from overseas projects in Cambodia and Cape Verde by 2025. The company will instead focus on Macau and its diversification away from gaming.<\/p>\n\n\n\n<p>Macau Legend&#8217;s chairman and executive director,\u00a0Li Chu Kwan, said inan interview with a Hong Kong TV station that the company is in discussions with yacht companies from the Greater Bay Area, aiming to attract more tourists to its properties via yacht visits. Macau Legend is also exploring opportunities to enhance its non-gaming offerings at Macau&#8217;s Fisherman Wharf, which may include clubs and spa facilities.<\/p>\n\n\n\n<p>Macau Legend encountered challenges in its overseas ventures. In 2021, it failed to secure land for a proposed integrated resort in Cambodia. Meanwhile, Cape Verde has threatened legal action over construction delays on the US$271.2m casino project in Praia, which began in 2016 and was supposed to be completed by February 2021.<\/p>\n\n\n\n<p>In\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-legend-posts-net-loss-of-us23-3m-for-h1\" target=\"_blank\">its financial results for the year\u2019s first half<\/a>, the company reported that revenue was down 22.7 per cent year-on-year at HK$420.2m (US$53.5m). It posted a net loss of HK$182.5m (US$23.3m).<\/p>\n\n\n\n<p>Macau Legend&#8217;s former co-chairman, Levo Chan <a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/levo-chan-sentenced-to-14-years-in-prison\" target=\"_blank\">was sentenced to 14 years in prison in April 2022<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Macau Legend has announced plans to exit the overseas projects by 2025.<\/p>\n","protected":false},"author":176,"featured_media":777006346,"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 plans to divest from its overseas projects in Cambodia and Cape Verde by 2025, shifting its strategic focus entirely to Macau. The company aims to enhance non-gaming offerings at Fisherman's Wharf and attract tourists via yacht visits, following challenges in its international ventures and a reported net loss in H1.","focusai_entities":"Macau Legend Development, Li Chu Kwan","focusai_location":"Macau, Cambodia, Cape Verde, Hong Kong, Praia, Greater Bay Area","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.8), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Capital Reallocation Strategy?","query":"What is the projected capital reallocation from the overseas divestments, and how will it be deployed to accelerate non-gaming diversification in Macau?"},{"label":"Governance for Diversification?","query":"What specific governance frameworks will be implemented to ensure the successful execution of the Macau-centric non-gaming diversification strategy, particularly concerning new partnerships for yacht tourism and hospitality enhancements?"}],"footnotes":""},"categories":[157,16338],"tags":[23906,22593],"class_list":["post-777009941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos","tag-macau-legend"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009941","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=777009941"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009941\/revisions"}],"predecessor-version":[{"id":777041192,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009941\/revisions\/777041192"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777006346"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777009941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777009941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777009941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}