Cape Verde to take back betting licence for Macau Legend

Following the Macau Legend Development group’s abandonment of the project, the government of Cape Verde declared its decision to cancel the concession for the hotel-casino project in the city of Praia. Ulisses Correia e Silva, the prime minister of Cape Verde, said that the concession will be cancelled since there had been signs that the investor would not be able to finish the project.

By 2025, Li Chu Kwan-led Macau Legend Development plans to abandon a number of international projects, including those in Cambodia and Cape Verde. The corporation plans to concentrate on its mass market operations in Macau and is looking into non-gaming services to attract more visitors, such as joint ventures with boat businesses.

One of the most eagerly awaited tourist initiatives in Cape Verde was the project, which is situated on the islet of Santa Maria in Gamboa. A tourist resort, a 250-room boutique casino hotel, a pool, dining establishments, bars, and a marina were all built as part of the project. However, the idea came under fire from a number of organisations, particularly environmentalists, and was under investigation by the Cape Verdean Architects’ Association and other bodies.

The Cape Verdean government will now take back the land that was given under a concession and set up restrictions for future ventures in the region. A 25-year gaming licence has been given to Macau Legend Development for the undertaking.

Removing the concession comes as Macau Legend Development looks to diversify its revenue streams and lessen its reliance on the gambling industry.

Original story by: Asia Gaming Brief