Macau Legend in line with gaming downward trend in Macau

Macau Legend boss David Chow said that his company is in line with the gaming downward trend across Macau.

Macau Legend Development Limited reported its financial results for the first six month of the fiscal year ending June 30. Total revenue decrease 23.9% year on year to HKD698.2 million, with HK$128.4 million adjusted EBITDA for H1 2015, a 70.4% dropped from H1 2014.

Macau-based casino and hotel operator Macau Legend also saw an interim loss of HKD68.44 million ($8.77m), compared to a profit of HK$226.37 million it earned over the same period a year ago, due to plunge in gaming revenue.

Gaming revenue decrease by 31.3% to HKD449.9 million, attributable to 61.9% plunge in gaming tables’ total gross gaming revenue to HKD1.88 billion but compensated by a positive contribution of the company’s self-run VIP operation New Legend, which contributed HKD109.7 million in H1 2015. Macau Legend operates a total of 150 gaming tables at Pharaoh’s Palace Casino in the Landmark Macau and Babylon Casino in Macau Fisherman’s Wharf.