In order to expand its businesses in and out of Macau, casino services firm Macau Legend Development is letting go. Of its Landmark Macau casino hotel, that is.

The Hong Kong Stock Exchange-listed company announced that it has a non-binding letter of intent in relation to the possible disposal of one of its properties.

Under the LOI, the purchaser will “acquire the entire issued share capital of and all the shareholder’s loan(s) owed by New Macau Landmark Management Limited (NML)… the legal and beneficial owner of the piece and parcel of land and in the messuages erections and buildings thereon known as ‘The Landmark Macau’ at a consideration to be agreed between the parties.” NML is an indirect wholly-owned subsidiary of Macau Legend.

The filing did not name a potential suitor nor the total consideration involved, but the company said the buyer will be required to pay a refundable deposit of HK$460 million (US$58.91 million)—of which HK$300 million (US$38.42 million) must be paid upon signing of the LOI, followed by the remaining HK$160 million (US$20.49 million) within 30 days from the date of the LOI.