Macau Legend, which operates the Legend Palace Casino and a number of hotels at Fisherman’s Wharf, has declared a loss of HK$152.4 million for the first six months of the year – down from HK$189.1 million in the same period in 2023.
The narrowed loss came on the back of an increase in revenue, up to HK$390.4 million for the period, from HK$335 during the first half of last year, according to a regulatory filing.
Adjusted earnings before interest, taxes, depreciation and amortisation rose to HK$85.32 million from HK$52.21 million during the first six months of 2023.
[See more: Gambling has had a ‘large, negative impact’ on Macao, says CE hopeful]
The directors recommended that no dividend be paid for the interim period.
Macau Legend had current liabilities of approximately HK$2,497.3 million as at 30 June 2024 and its total outstanding bank borrowings of HK$2,071.6 million become immediately repayable if demanded by the creditor banks.
In their filing, the directors cautioned that Macau Legend “might not be able to continue to operate as a going concern” if certain remedial “plans and measures” undertaken by the board failed to succeed.
