Macau Legend expects first-half loss to narrow 90% to HK$136.8m

Macau Legend Development expects to report a loss of approximately HK$136.8m ($17.5m) for the six months ended 30 June 2026, compared with HK$1.42bn in the corresponding period of 2025.

The forecast represents a reduction of approximately 90.4%, or HK$1.28bn, from the prior-year deficit. Macau Legend attributed the movement primarily to the absence of impairment losses on non-financial assets during the latest reporting period.

In the first half of 2025, the group recognised approximately HK$1.27bn in impairment charges relating to its continuing operations. No comparable charge was recorded in the preliminary management accounts for the first six months of 2026.

Macau Legend did not provide revenue, adjusted EBITDA or segment-level figures in the profit warning. It also did not identify other factors affecting the expected result, meaning the anticipated narrowing of the loss cannot yet be assessed against the group’s underlying operating performance.

The company said it was continuing to finalise its consolidated interim results. The forecast is based on a preliminary assessment of information currently available to the board, including unaudited consolidated management accounts.

Those accounts have not been audited or reviewed by Macau Legend’s independent auditor, or confirmed by its audit committee. The figures may therefore be adjusted before publication of the complete interim results, which the company expects to release by the end of August.

Earlier, Macau Legend reported a HK$1.57bn loss for 2025 after ending its gaming operations at Legend Palace Casino. The result included a HK$1.13bn impairment linked to Macau Fisherman’s Wharf, while covenant breaches and HK$2.7bn in net current liabilities contributed to material uncertainty over the group’s ability to continue as a going concern.

The company also completed a rights issue in January, raising net proceeds of approximately HK$86.4m after co-underwriters took up a 50.51% shortfall.