Macau Legend has revealed financial results showing losses for the first half of the year due to the impact of the pandemic on tourism to Macau.<\/p>\n\n\n\n\n\n\n\n
Macau.- Gaming company Macau Legend Development has estimated it will report HK$490 million (US$63.2 million) in unaudited consolidated loss for the first half of the year.<\/p>\n\n\n\n
That compares to HK$107 million (US$13 million) in losses in the same period last year.<\/p>\n\n\n\n
The drop is attributed to the decrease in revenue owing to travel restrictions and other Covid-19 measures.<\/p>\n\n\n\n
The pandemic has severely impacted arrivals to Macau and Laos in the first half of 2020, with tourism still suffering.<\/p>\n\n\n\n
The company is currently developing a resort in Cape Verde, but the government there\u00a0indicated\u00a0this month that the pandemic would delay completion.<\/p>\n","protected":false},"excerpt":{"rendered":"
Macau Legend has revealed financial results showing losses for the first half of the year due to the impact of the pandemic on tourism to Macau.<\/p>\n","protected":false},"author":2,"featured_media":9232,"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 an unaudited consolidated loss of HK$490 million for the first half of the year, a significant increase from the prior period, primarily due to severe pandemic-induced travel restrictions impacting tourism in Macau and Laos. Concurrently, the company's resort development in Cape Verde is experiencing delays attributed to the ongoing global health crisis.","focusai_entities":"Macau Legend Development","focusai_location":"Macau, Laos, Cape Verde","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"H1 Loss Mitigation","query":"What specific operational adjustments and capital expenditure deferrals are being implemented by Macau Legend to address the escalating H1 losses and maintain liquidity ratios in a constrained GGR environment?"},{"label":"Cape Verde Project ROI","query":"How will the pandemic-induced delay in the Cape Verde integrated resort project affect its revised completion timeline, projected EBITDA contribution, and the company's overall capital allocation strategy?"}],"footnotes":""},"categories":[160,16338,163],"tags":[257],"class_list":["post-9229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9229","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=9229"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9229\/revisions"}],"predecessor-version":[{"id":9246,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9229\/revisions\/9246"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9232"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}