Cabo Verde issues final warning to Macau Legend over stalled hotel-casino project

Cabo Verde’s government has issued a final ultimatum to Macau Legend, urging the company to present a new plan for its stalled hotel-casino project in Praia or risk losing the site entirely, according to a report by Lusa.

Speaking during a visit to Macau, Minister of Internal Affairs Paulo Rocha told the news agency that the developer, which has repeatedly missed deadlines, now faces its last opportunity to move forward. “

“If it doesn’t present a proposal within the timeframe given, the reversion process will be finalized and then the government will look for other, probable, possible investors,” Rocha said.

The unfinished development includes the Santa Maria islet and adjacent Gamboa seafront, covering 160,000 square meters.

Little activity has occurred at the site, aside from security guards stationed at the entrance. The structure, now an eight-story shell, remains fenced off and incomplete.

The government had already launched a reversion process in November 2023.

At that time, it gave Macau Legend 60 days to submit a viable proposal, although Rocha admitted it was unclear when the countdown began. If no plan is presented, the government will seek new investors.

Originally signed in 2015 by businessman David Chow, the 250 million-euro project was to be completed in phases, with the first phase scheduled for 2021. However, delays and financial troubles have stalled progress.

Macau Legend, which posted a HKD45.9 million loss in early 2024, said it is exploring legal options to challenge the reversion. But the company has also expressed doubts about its long-term viability, citing HKD2.51 billion in debt.