Macau Legend H1 revenue gains as Macau offsets Laos decline

Legend Palace Macau

Macau Legend said its 1H21 revenue rose 45 percent as the improved performance from its casinos under management in Macau offset a decline in Laos.

The group said revenue came in at HK$527.4 million. The Legend Palace Casino in Macau reported a gain in revenue of about $17.3 million, the Babylon Casino saw revenue rise about $19.1 million and the Landmark Casino posted a gain of about $123.3 million.

However, that was offset by a decline in reported revenue from the Savan Legend in Laos of about $25.7 million, it said.

The group operates 194 tables in Macau as of end June, unchanged from the prior year. While it had 7 gaming tables in operation in Laos, compared with 48 a year earlier.

Macau Legend said its adjusted EBITDA loss narrowed to $132.9 million, an improvement of some 38.2 percent from the prior year.

The group loss widened to $688.6 million from $550.2 million, affected by impairment losses for a project in Cape Verde due to the significant impact of the pandemic.