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Macau Legend expects widened loss in 2017

Macau Legend Development says it expects to record an 85 percent increase in net loss for the year ended December 31, 2017, attributed to depreciation, financial and impairment costs.

The depreciation costs relates to its operation of Legend Palace Hotel since early 2017, while the increase in finance costs are due to the cessation of interest capitalization related to Legend Palace Hotel during the year, it said.

At the same time, there was an increase in impairment on property, plant and equipment and a decrease in potential revenue due to Typhoon Hato, said the company.

A formal results announcement for the year ended December 31, 2017 is expected for March 2018.

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