Date
23 July 2017
Macau Legend, led by chairman and chief executive David Chow Kam-fai, said it will post a loss for the first half of the year. Photo: HKEJ
Macau Legend, led by chairman and chief executive David Chow Kam-fai, said it will post a loss for the first half of the year. Photo: HKEJ

Macau Legend to invest in US$200 mln Cape Verde gaming complex

Macau Legend Development Ltd. (01680.HK) is reportedly building an integrated resort on Cape Verde islands, an archipelagic nation off the northwest coast of Africa.

The gaming and entertainment complex, which is expected to need US$200 million in investment, will include high-end hotels, casinos, conference centers and yacht piers, among other facilities, the Hong Kong Economic Journal reported on Monday, citing unnamed sources.

Construction will start as early as next year, and agreements are expected to be signed with relevant authorities this week, the newspaper said.

Macau Chief Executive Fernando Chui Sai On will attend the signing ceremonies, it added.

Cape Verde posted a gross domestic product of US$3.29 billion last year, ranking 181st in the world. Its GDP per capita was US$6,300, No. 157 globally.

Union Gaming Research Macau analyst Grant Govertsen said more casinos are expected to be constructed in the Asia-Pacific as well as other parts of the world to take advantage of the growing market of Chinese travelers.

Macau Legend, a gaming and entertainment company, issued a profit alert on Friday, signaling a loss in the first half of the year.

[Chinese version中文版]

— Contact us at [email protected]

VW/JP/CG

Hong Kong Economic Journal

EJI Weekly Newsletter

Please click here to unsubscribe