Macau Legend Issues HK$1.42bn Profit Warning
It’s been reported this week that Macau Legend Development has issues a profit warning message for the six-month period finishing on 30th June 2025 – where they are forecasting a serious increase in losses mirrored from the same period in 2024.
The Hong Kong Stock Exchange have filed reports that show the Macau group is looking at a net loss of approximately HK$1.42bn, which is up from the HK$100M for the first period of 2024.
These losses are mainly down to the closure of their Legend Palace Casino at Macau Fisherman’s Wharf, which is said to make up around HK$1.29bn of the downfall.
This came after it was revealed there would be no renewal of the group’s service agreement with SJM Resorts S.A. – which impacted performance at the Macau Fisherman’s Wharf betting site via Macau Fisherman’s Wharf International Investment Ltd and also Hong Hock Development Company Ltd.
In summary, all this means the shutting down of their satellite casino gambling sites in Macau.
The Macau Legend and SJM Resorts S.A. Service Agreement Will End In December
This non-renewed service agreement between SJM Resorts S.A. and Macau Legend will expire at the end of the year – 31st December 2025.
It was also revealed that excluding these damaging figures and the linked tax effects – Macau Legend projects expect their losses to bet bigger still by HK$23m (21%), based on the same period last year.
They have said the reason here was due to a decrease in adjusted EBITDA from gaming functionality by around HK$30m.
The Macau Legend Development board also underlined that these figures are made up on initial audited management accounts and could easily alter.
Investors and shareholders with the company have since been advised to re-look at the company’s results statement, which is set to come out at the end of August 2025 – for a more detailed financial indication of their performance.
