The mystery behind Macau Legend’s trading halt was resolved when it became known that Chan Weng Lin, also called Levo Chan, chief executive of the junket firm Tak Chun Group, has acquired a roughly 20.7 percent stake in Macau Legend.
The purchase deal took place on September 11 through an offshore firm called Perfect Achiever Group Limited.
In March of this year, David Chow, the founder of Macau Legend, turned over CEO duties to his wife Melinda Chan, but has remained co-chairmen and holds a 29.9 percent stake in the firm.
David Chow and Chan Weng Lin are now the firm’s No. 1 and No. 2 investors, respectively.
Hong Kong-listed Macau Legend operates the Macau Fisherman’s Wharf casinos, the Savan Legend Resort in Laos, and a large-scale shopping complex on Hengqin island.