Casino hotel Legend Palace – the latest property from Hong Kong-listed casino services firm Macau Legend Development Ltd – opens to the public today (February 27).
The opening celebrations for the project will include a hotel tour and a dinner, which will be attended by Macao government officials, according to the developer.
Macau Legend co-chairman and chief executive David Chow Kam Fai has previously said that the 223-room Legend Palace (pictured) would launch with up to 66 live-dealer gaming tables, with at least 46 of them earmarked for mass play.
“We are planning to house between 46 and 55 mass tables, plus 11 self-run VIP tables, during the grand opening period,” Mr Chow had said. There are “plans to open three” junket-promoted VIP rooms “at a later stage”, the Macau Legend CEO added.
The Macau government said a fortnight ago it was granting 15 new-to-market gaming tables – all earmarked for mass play – to the new hotel.
As a gaming services business, Macau Legend does not hold Macau table quota in its own right, but instead must rely on the quota of one of the existing Macau casino operators. It currently collaborates with SJM Holdings Ltd.
Legend Palace is the second new hotel under a redevelopment plan for Macau Fisherman’s Wharf. The first, Harbourview, opened in February 2015 but does not have gaming.
Work on the third new hotel under the Macau Fisherman’s Wharf revamp – the 500-room Legendale Hotel – has not yet started. The firm is awaiting government approval regarding the proposed height of the property, it said in its 2016 interim report.
Macau Legend currently runs two casinos in Macau: the Babylon Casino at Macau Fisherman’s Wharf and Pharaoh’s Palace Casino at the Landmark Macau casino hotel. The company currently has 179 gaming tables.
Apr 26, 2017Net profit at Macau casino operator Wynn Macau Ltd rose 26.5 percent in the first quarter of 2017. Such profit was nearly US$103.6 million, compared with nearly US$81.9 million in the prior-year...
Apr 25, 2017
Apr 25, 2017
Apr 25, 2017
Nov 23, 2016Hong Kong-listed casino equipment supplier Paradise...
Oct 27, 2016As Studio City – the US$3.2-billion, 2015 addition to...
May 26, 2016Macau’s pacapio Chinese lottery game will celebrate its...
May 18, 2016Russia-based Diamond Fortune Holdings Ltd says it has big...
Dec 31, 2015The year 2016 could see the coming of age of “destination...
"VIP growth [in Macau] is roaring back on the heels of last year’s economic stimulus – but we think this could stall once the effect of the stimulus and the Chinese housing bubble wears off – as it did in 2013-14"
Cameron McKnight and Robert Shore
Analysts at Wells Fargo Securities