Hong Kong-listed casino services firm Macau Legend Development Ltd said on Wednesday that it would pay a special dividend on July 12, to shareholders whose names appear on the register of members of the company on July 4.
The board of Macau Legend in May declared a special dividend of HKD0.08 (US$0.010) per share, amounting to HKD501.4 million in total.
Macau Legend is the promoter of Macau Fisherman’s Wharf (pictured), a waterside entertainment zone near the Outer Harbour Ferry Terminal on Macau peninsula. The company also operates a casino in Laos, a property known as Savan Legend Resorts Hotel and Entertainment Complex.
The casino services firm reported revenue of almost HKD1.84 billion for full-year 2017, up by 24.8 percent from the previous year.
The company’s annual net loss however continued widening in 2017. Macau Legend posted a net loss of HKD507.3 million for the 12 months ended December 31. That compared with a loss of HKD277.5 million in the previous year, the firm said in a March filing.
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”Many investors cite Golden Week as a catalyst to significant, sustainable visitation increases and a showcase for profitability for many casinos [in Macau]... However… we are concerned recovery estimates may again be pushed back”
Analyst at Roth Capital Partners