Macau casino operator Macau Legend says it expects to report unaudited consolidated profit attributable to the owners of the company of around HK$229 million for the six months to 30 June 2018, due primarily to the sale of its former subsidiary New Macau Landmark Management Limited (NML).
New Macau Landmark Management Limited is the entity that owns The Landmark Macau hotel and Pharaoh’s Palace casino.
The expected profit comes after Macau Legend reported an almost identical level of loss of HK$228.6 million in the same period last year as a result of increased costs following the opening of Legend Palace casino and hotel in the Macau Fisherman’s Wharf precinct.
The company completed the sale of NML on 27 April this year for a consideration of HK$4.6 billion, however it continues to provide gaming services at Pharaoh’s Palace under the terms of the sale via its wholly-owned subsidiary Hong Hock.