Macau Legend reports HK$1.42bn loss amid SJM Resorts changes
Company faces financial shifts as gaming operations adjust.
Key points:
– Macau Legend recorded a net loss of HK$1.42bn (US$181.6m) for the six months ended 30 June 2025
– The loss was primarily due to a HK$1.27bn impairment on non-financial assets and continued operational costs
Financial overview
Macau Legend has issued its unaudited interim results for the six months ended 30 June 2025. This comes after Macau Legend recently issued a profit warning for this period, anticipating a significant increase in losses compared to the same period last year.
Revenue for the period was HK$168.1m, down 7.6% year-on-year. Loss before tax from continuing operations reached HK$1.46bn, a year-on-year rise of 501%.
Total operating, administrative and other expenses were HK$66.8m, up 19.5%, while finance costs were HK$73.7m, down 20.9%.
Balance sheet highlights
Total assets stood at HK$4.44 bn, down 22.3% from at the end of 2024, with non-current assets of HK$4.32 bn, down 24.5%, and current assets of HK$128.1 m, down 19.8%.
Good to know: Material uncertainties exist regarding Macau Legend’s ability to continue as a going concern, pending successful implementation of strategic plans and support from stakeholders
Current liabilities were HK$2.69 bn, up 0.6%, resulting in net current liabilities of HK$2.56 bn, up 1.9%. Net assets decreased to HK$1.62 bn, down 46.8% from the end of 2024.
Operational developments
Macau Legend has announced plans to sell its 21.5% stake in Hengqin Legend Ponto Square. A share consolidation plan has been proposed to support trading activity and improve stock performance. The company continues operations at its Macau Fisherman’s Wharf properties, focusing on non-gaming revenue streams.
Macau Legend Development’s financial deterioration follows a period of operational and contractual changes. The group previously operated satellite casino operations at Macau Fisherman’s Wharf under a service agreement with SJM Resorts S.A., which is set to expire at the end of 2025.
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