Macau Legend warns of six-month loss

Macau Legend Development said it expects to record a year-on-year loss for the six months ended 30 June 2015, without giving specific numbers. 

The expected loss is mainly attributable to a decrease in revenue from the company’s gaming services due to a decrease in overall gross gaming revenue; an increase in overall operating expenses, particularly staff costs; and an increase in overall depreciation and amortisation charges, particularly the depreciation of Harbourview Hotel, which commenced operations on 2 February 2015.

It was reported on Monday by the Hong Kong Economic Journal that the company is expected to begin construction on its Cape Verde resort as early as next year, and agreements are expected to be signed with relevant authorities this week.

The resort will include high-end hotels, casinos, conference centers and yacht piers, the journal reported, citing unnamed sources

 

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