Mar 23, 2022 Newsdesk Latest News, Macau, Top of the deck  
Hong Kong-listed Macau casino services firm Macau Legend Development Ltd says it expects its stock to be suspended from quotation on that bourse with effect from 9am on April 1.
In a Wednesday filing, the company said this was because it “may not be able” to publish its 2021 annual results “on or before” March 31, as required under stock market rules.
The company added this was “due to the travel restriction and quarantine measures occasioned by the Covid-19 pandemic, which inevitably brings difficulties to the financial reporting and consolidation process of the company’s operations, and thus will require additional time to complete the process”.
Macau Legend oversees a number of so-called satellite casinos in Macau – including the Legend Palace casino hotel at Macau Fisherman’s Wharf (pictured) – under the Macau gaming licence of SJM Holdings Ltd. It also has several non-gaming hotels and leisure facilities at Fisherman’s Wharf. In addition, the firm owns a casino resort in Laos and is developing a gaming project in Cape Verde.
In a March 1 filing, Macau Legend said it had appointed Melinda Chan Mei Yi, wife of the firm’s founder David Chow Kam Fai, as its new chief executive.
The appointment came after the arrest of former Macau junket boss Levo Chan Weng Lin in January – described at that time as Macau Legend’s largest-single shareholder.
Following his detention by Macau authorities on suspicion of illegal running of gambling operations and money laundering, Mr Chan resigned from his roles as an executive director, the co-chairman and the chief executive of the Macau Legend, with effect from January 31.
Macau satellite casinos are venues controlled by independent investors, but respectively piggyback currently on the gaming licence of one of the existing concessionaires.
Satellites will still be permitted under Macau’s proposed new regulatory system – to be established prior to an anticipated fresh public tender for Macau gaming rights – but they will each be given a three-year grace period to tie the ownership of their gaming premises to any of the city’s six concessionaires, states the city’s gaming law amendment bill.
Apr 21, 2023
Apr 21, 2023
Jun 08, 2023
Jun 08, 2023
Jun 08, 2023
Macau recorded 158 “gaming-related” crimes in the first three months of 2023, up 24.4 percent on the 127 identified in the prior-year period, according to the latest statistics published on...Jun 08, 2023
Gaming content and equipment maker Konami says it is...Jun 07, 2023
Casino gaming content and hardware provider Light &...Jun 06, 2023
Electronic table games (ETGs) supplier Interblock dd is...Jun 05, 2023
Random number generator (RNG) testing tools are among the...Jun 01, 2023
Alfastreet, a manufacturer of electronic gaming machines,...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
”I think the gaming sector has a huge potential in coming years. The situation around the pandemic drew a lot of attention from the casino operators to the ETG segment”
Michael Hu
President for the Asia-Pacific region at gaming supplier Interblock