Macau Legend US$152mln loss, eyes Macau ops after 2022

Gaming and hotel services firm Macau Legend Development Ltd reported on Tuesday a net loss of just above HKD1.19 billion (US$151.7 million) for full-year 2021, a 39.1-percent improvement from the prior-year period. The company said it would “explore various options” to continue to operate gaming in Macau beyond December 31 this year.

Macau Legend’s 2021 revenue rose by 62.1 percent year-on-year, to nearly HKD1.14 billion, according to a filing to the Hong Kong Stock Exchange. The company’s costs increased by 28.9 percent year-on-year, to nearly HKD1.51 billion.

The group’s adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) were negative by HKD300.3 million, an improvement over the last corresponding period, when it recorded an EBITDA loss of HKD429.3 million.

Trading in the shares of Macau Legend resumed on Wednesday, following the publication of its 2021 annual results nearly three months later than permitted under Hong Kong bourse rules. The shares had been suspended with effect from April 1.

Source: https://www.ggrasia.com/macau-legend-us152mln-loss-eyes-macau-ops-after-2022/