Macau Legend narrows H1 loss amid operational challenges

Sep 04, 2024 00:35

Macau Legend Development reported a narrower loss of HKD152.4 million (USD19.55 million) for the first half of 2024, down from HKD189.1 million in the same period last year. The improvement comes as revenues increased 16.5% to HKD390.4 million, driven by a 43% rise in gaming-related revenue. However, the company is facing financial strain due to loan covenant breaches linked to the cessation of its Laos operations. Directors warned that without effective remedial measures, the company may struggle to continue operations.

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Macau Legend narrows H1 loss amid operational challenges