Macau Legend Forecasts Wider 2025 Loss Following Casino Closure and Asset Impairment
Friday 27 de March 2026 / 12:00
⏱ 1 min read
(Macau).- Macau Legend Development expects a significantly higher net loss for FY2025, driven by major asset impairments and the shutdown of its Legend Palace casino amid regulatory changes in Macau.
Macau Legend Development Ltd has announced that it expects to post a net loss of approximately HKD1.57 billion (around US$200 million) for the full year 2025, widening substantially from a HKD623 million loss reported in 2024, according to a recent filing.
The company operates the Macau Fisherman’s Wharf tourism complex, located near the Outer Harbour Ferry Terminal on the Macau peninsula. The site previously included the Legend Palace casino, which was operated under a services agreement with SJM Holdings Ltd.
Legend Palace ceased operations on November 12, 2025, in line with Macau’s regulatory shift to phase out the traditional satellite casino model by the end of the year. This policy change has significantly impacted operators relying on such arrangements.
Macau Legend attributed the expected increase in losses primarily to a substantial impairment charge of approximately HKD1.18 billion recorded during 2025, compared to HKD376 million in the previous year. The impairment reflects changes in the fair value of property, equipment, and right-of-use assets tied to the Macau Fisherman’s Wharf complex, following the non-renewal of its agreement with SJM.
Additionally, the company booked provisions of around HKD71 million related to employee compensation and benefits, including long service payments, stemming from the termination of the SJM-related operations.
Earlier in the year, Macau Legend raised approximately HKD93 million through a rights issue aimed at strengthening its capital structure and supporting working capital needs, as it navigates a challenging transition period.
Categoría:Casino
Tags: Sin tags
País: Macao
Región: Asia
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