Macau Legend Development expects to record a loss of approximately HK$1.57bn for the year ended December 31 2025, compared with a loss of HK$623m in 2024, according to a company filing.
The wider loss is primarily attributed to a significant impairment charge of about HK$1.18bn during the reporting period, up from HK$376m in the preceding year. The impairment relates mainly to changes in the fair value of property and equipment and right-of-use assets associated with the Macau Fisherman’s Wharf complex, which the group operates through its subsidiaries.
Macau Fisherman’s Wharf formerly housed the Legend Palace Casino, a satellite casino operating under the concession of SJM Resorts. Following regulatory changes in Macau requiring satellite casinos to close or transition to direct management by concession holders, the agreement was formally terminated on November 13 2025 and the casino ceased operations on November 12.
After the expected non-renewal, management conducted fair value assessments and recognized an impairment provision of approximately HK$1.29bn for the six months ended June 30 2025. As of December 31 2025, comprehensive valuations were performed, with fluctuations during the period attributed solely to changes in asset fair value.
The group also recorded a provision of around HK$71m for employee compensation and benefits, including long service payments, resulting from the termination of the service agreement.
The company advised shareholders and potential investors to exercise caution when dealing in its securities pending the release of audited results.
The financial figures are based on preliminary unaudited consolidated management accounts and may be subject to further adjustments
