No reason was given for the latest delay.<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Macau Legend<\/strong>\u00a0has announced an extension to the deadline for the planned sale of its casino resort business in Laos, Savan Legend, pushing it back to April 15.\u00a0The decision comes after previous delays, with the exercise initially set for resolution in February and later postponed to March 31<\/strong>. The latest extension was revealed in a filing but the reasons were not disclosed.<\/p>\n\n\n\n The sale of Savan Legend\u00a0was first announced last June<\/a>, with Shundo Yoshinari<\/strong><\/strong>, a Japanese citizen residing in Japan, identified as the prospective buyer.\u00a0In a filing dated December 21, 2023, Macau Legend disclosed that the entire equity interest in Savan Legend was\u00a0to be sold for an initial consideration of US$39m<\/a>. However, certain conditions needed to be met for the transaction to proceed, including consent from the Laos government and providision of a tax clearance certificate confirming the settlement of outstanding tax liabilities.<\/p>\n\n\n\n Macau Legend\u00a0<\/strong>reported that full-year revenue for 2023 was up 26.7 per cent when compared to the previous year at nearly HK$901.6m (US$115m).\u00a0The casino operator posted a\u00a0net loss of HK$4.9m (US$628,497)<\/strong>, an improvement on the HK$607.2m (US$ 78m) loss recorded in the prior year. <\/p>\n\n\n\n Costs stood at HK$741.4m (US$ 91m), down 29.2 per cent from the prior year. Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA<\/strong>) reached HK$185.9m (US$24m) in 2023. Revenue for gaming services declined by 5.0 per cent year-on-year, to approximately HK$493.1m (US$ 55m).<\/p>\n","protected":false},"excerpt":{"rendered":" No reason was given for the latest delay.<\/p>\n","protected":false},"author":176,"featured_media":13627,"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 has extended the deadline for the sale of its Laos casino resort, Savan Legend, to April 15, citing undisclosed reasons and pending government consent and tax clearance. Concurrently, the company reported a 26.7% increase in full-year 2023 revenue to US$115m, significantly reducing its net loss to US$628,497, despite a 5.0% decline in gaming services revenue.","focusai_entities":"Macau Legend, Savan Legend, Shundo Yoshinari","focusai_location":"Macau, Laos, Japan","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact of Laos Consent","query":"What specific regulatory or governance framework challenges in Laos might be contributing to the repeated delays in securing government consent for the Savan Legend divestment?"},{"label":"Financial Outlook Post-Sale","query":"How will the successful divestment of Savan Legend, considering its US$39m consideration, impact Macau Legend's capital structure, future operational focus, and overall GGR\/NGR projections?"}],"footnotes":""},"categories":[157,16338],"tags":[22593],"class_list":["post-777014394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-legend"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014394","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=777014394"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014394\/revisions"}],"predecessor-version":[{"id":777014401,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014394\/revisions\/777014401"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/13627"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777014394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777014394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777014394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Macau Legend posts revenue of US$115m for full-year 2023<\/h2>\n\n\n\n