Macau Legend signs contract to build resort in Cape Verde

Macau Legend Development and the government of Cape Verde have signed a contract to build an integrated resort and casino on the African archipelago. The company’s CEO, David Chow, said yesterday that the construction of the luxury project located on the islet of Santa Maria, near Praia, is expected to take three years.
The USD273 million plan includes a luxury hotel, an international convention centre, a marina, and a bridge connecting the islet to the mainland. According to Chow, it will be “a touristic landmark” for Cape Verde.
In a filing to the Hong Kong Stock Exchange, Macau Legend stated that the gaming concession will be granted for 25 years, the first 15 of which will include exclusivity in the area. The company also stated that it paid over MOP10 million for the gaming concession to the Cape Verde government.
The Minister of Tourism, Investment and Business Development of Cape Verde, Leonesa Fortes, attended the contract signing ceremony and stressed that the integrated-
resort is “the largest external project” in Cape Verde.