Macau Legend Development has announced its intended withdrawal from several overseas projects in Cambodia and Cape Verde in Africa by 2025.
In an interview with Hong Kong TV station, TVB, chairman and executive director Li Chu Kwan explained that the group is actively seeking to develop its non-gaming businesses to reduce its dependence on the gaming sector.
The group is currently exploring opportunities to attract guests to Macau from the Greater Bay Area.
In June this year, the company announced it had signed a letter of intent to sell its Savan Legend casino resort in Savannakhet, Laos, for USD45 million.
In 2019, Macau Legend purchased 1,200 hectares of land in Cambodia’s Siem Reap Province from Howing Enterprises Co. Ltd to develop an integrated resort.
The land was acquired for slightly over USD90 million following a memorandum of understanding signed by both parties in June 2014.
Following this, Macau Legend and the government of Cape Verde signed a contract in 2015 to build an integrated resort and casino. The USD273 million project includes a luxury hotel, international convention centre, marina, and bridge connecting the islet to the mainland. LV
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