Macau Legend Ltd. has posted a loss of HK$107.5 million (US$13.7 million) for the first six months of 2019 to June 30.
According to the interim financial report published by the company, for the same period the previous year, the company had generated HK$2.8 bln in profits.
Macau Legend operates gaming services at two casinos – Legend Palace and Babylon Casino. The company operates under the gaming license of regional casino giant SJM Holdings.
The completion of the disposal of The Landmark Macau in April 2018 as well decreased contributions from operations at Landmark Casino and The Landmark Macau has been blamed by the company for losses in the first half of 2019.
Despite losses, Macau Legend’s H1 revenue soared 13.7 percent year-on-year to some HK$1.08 billion. Its gaming revenue also jumped 28.7 percent to nearly HK$867.5 million.
The group manages and operates a total of 194 gaming tables in Macau.
Earlier, casino management and gaming technology services provider, Paradise Entertainment Limited posted a drop of 9.6 percent year-on-year drop in half-yearly revenue to June 30, 2019. The company generated HK$23.8 million (US$3 million) in the first half of this year, reveals the group’s most recent financial report.
The slowdown in the Chinese economy and the ongoing US-Chin trade war continues to take a toll on gambling revenue and of the companies associated with Macau’s casino and gambling industry.