Macau Legend Development said it expects to post a profit in the first half of 2018, boosted by the sale of New Macau Landmark Management.
In the same period last year, the company posted a loss of about HK$229 million ($29.2 million). The sale of New Macau was announced in April this year.
The company will report its results later this month, it said in a statement to the Hong Kong Stock Exchange.
Macau Legend owns the Savan Legend in Laos, which it is expanding and earlier this year said it’s also interested in entering Cambodia. The group said in April that it would spend between $300 million to $500 million in Laos.
It’s also developing a $300 million resort in Cape Verde, Africa, which is likely to partially open this month, the company said at the time.
South Shore Holdings, owner of Macau's The 13, has said it won't be able to publish its financial results for 2020 according to the deadline set by the Hong Kong Stock Exchange and as a result its shares will be suspended from trading from July 2 until the release of the figures.
For this edition of our magazine, we focus on Southeast Asia, with a particular look at the Philippines. The country’s casino industry has been among the hardest hit in Asia, with the integrated resorts in Manila’s Entertainment City having remained mostly closed to the general public since the beginning of the crisis last year.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.