{"id":777028499,"date":"2025-07-01T09:01:30","date_gmt":"2025-07-01T12:01:30","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777028499"},"modified":"2026-04-21T21:24:28","modified_gmt":"2026-04-22T00:24:28","slug":"macau-legend-agrees-with-lenders-to-restructure-its-debt","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-legend-agrees-with-lenders-to-restructure-its-debt","title":{"rendered":"Macau Legend defends financials"},"content":{"rendered":"\n

An extraordinary general meeting will be held to approve a share consolidation plan.<\/p>\n\n\n\n\n\n\n\n

Macau.- Macau Legend has outlined steps to restructure its bank borrowings, including deferring loan repayments and negotiating facility restructuring arrangements, to address liquidity issues and ensure continued operations.<\/p>\n\n\n\n

In the statement, the company clarified that it is not in liquidation or facing any winding-up petitions. It said financial statements reflect a strengthening performance, including a 65.1 per cent year-on-year improvement in adjusted EBITDA to HK$159.8m (US$20.41m). Macau Legend also highlighted that it has secured agreements with its lenders to restructure its debt.<\/p>\n\n\n\n

An extraordinary general meeting is to be held on July 30 for shareholders to approve Macau Legend\u2019s share consolidation plan. The firm said the proposal, if approved, should be in effect from August 1.<\/p>\n\n\n\n

In March, Macau Legend posted a loss of HK$622.6m (US$80m)<\/a> for 2024, compared to a loss of HK$4.9m (US$612,500m)\u00a0in the previous year<\/a>. Revenue\u00a0was up 4.3 per cent when compared to the previous year at HK$901.6m (US$96.4m). <\/p>\n\n\n\n

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) reached HK$159.8m (US$20m), up 65.2 per cent year-on-year. Revenue for gaming services received from\u00a0SJM Holdings\u00a0for mass market tables in\u00a0Legend Palace Casino\u00a0rose by 17.1 per cent year-on-year to HK$393.1m (US$50.3m).<\/p>\n\n\n\n

The company attributed the widened loss to impairment losses of approximately HK$376.2m (US$47.0m) recognised in relation to non-financial assets held by\u00a0investment projects in Macau and Cape Verde\u00a0as well as the write-back of a provision for Macau complementary tax of HK$415.5m (US$51.9m).<\/p>\n\n\n\n


<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Macau gaming tax revenue flat in first five months of the year<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

An extraordinary general meeting will be held to approve a share consolidation plan.<\/p>\n","protected":false},"author":226,"featured_media":777028007,"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 is implementing a debt restructuring plan, including loan repayment deferrals and facility renegotiations, to address liquidity issues and ensure operational continuity. Despite an improved adjusted EBITDA, the company reported a widened net loss for 2024 due to significant impairment losses on investment projects, with shareholders set to vote on a share consolidation plan.","focusai_entities":"Macau Legend, SJM Holdings","focusai_location":"Macau, Cape Verde","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Debt Restructuring Impact","query":"What are the specific terms and covenants of the restructured bank borrowings, and how will they impact Macau Legend's operational cash flow and future capital expenditure plans?"},{"label":"Share Consolidation Rationale","query":"Beyond addressing liquidity, what is the strategic rationale behind the share consolidation, and how is it expected to influence shareholder value and market perception of Macau Legend's equity?"}],"footnotes":""},"categories":[16338,163],"tags":[24816,22593,23108],"class_list":["post-777028499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-ebitda","tag-macau-legend","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777028499","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\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777028499"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777028499\/revisions"}],"predecessor-version":[{"id":777028517,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777028499\/revisions\/777028517"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777028007"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777028499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777028499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777028499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}