Macau Legend posts higher revenue for H12014

Macau Legend, owner of gaming and entertainment facilities in Macau, reported higher revenue of HK$917.5 million ($118.38 million) for H12014, an increase of 8.7 percent over the same period last year. Revenue from gaming services received from SJM Holdings for services related to mass market tables, VIP rooms and slot machines at Pharaoh’s Palace Casino and Babylon Casino, was HK$654.94 million, while non-gaming revenue from The Landmark Macau and Macau Fisherman’s Wharf reached HK$262.56 million, compared with $220.77 in the year ago period. Both mass market and VIP revenue grew at Pharaoh’s Palace, while non-gaming revenue benefited from the completed renovations at The Landmark Macau.

Adjusted EBITDA for the six months ended June 30, 2014 was approximately HK$462.5 million, representing an increase of around 7.2 percent over the corresponding period last year. The group’s overall profit fell to HK$226.4 million ($29.21 million), or around 15.1 percent, compared with H12013 however, due mainly to the inclusion of unrealized exchange rate losses following the recent decline of the Chinese RMB against the HK$.The Board did not recommend paying a dividend. 

  

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