Content Writer: Janice Chew • Friday, 25/09/2025 - 00:07:57 - AM
Macau Legend has suffered a severe financial setback, posting a net loss of HK$1.42 billion (US$182 million) in the first half of 2025—nearly twelve times higher than the same period last year. The sharp decline was driven primarily by a HK$1.29 billion impairment linked to the impending closure of its Legend Palace satellite casino, a result of Macau’s continuing regulatory overhaul of the satellite casino sector.
In response to the mounting losses and near-term liquidity pressures, Macau Legend has launched a public tender to sell its 21.5% stake in the Hengqin Legend Ponto Square development—a mixed-use commercial complex across from the Hengqin Port, featuring 109 retail units and 862 parking spaces. The tender, open from September 1 to October 30, carries no preset price and requires bidders to submit a ¥15 million bank guarantee, forfeitable upon failure to finalize purchase terms.
Financial strain isn’t limited to operational losses. As of June end, Macau Legend’s borrowings have been reclassified as current liabilities, signaling potential demands for immediate repayment. While default has been avoided—for instance, repayment deadlines were extended for an HK$85.5 million loan until October 2026—the company openly warned that “circumstances exist that cast significant doubt on the Group’s ability to continue as a going concern”.
Moving forward, Macau Legend is now banking on divesting non-core real estate and refocusing operations around its remaining non-gaming assets at Macau Fisherman’s Wharf, hoping to shore up liquidity and stabilize its position amid industry-wide consolidation. The outcome of the Hengqin Ponto Square sale—and the company’s ability to restructure its debt—will be pivotal to its survival in Macau’s evolving gaming landscape.
