1.  One of Macau's effectively identified establishments, the Macau Legend Growth Ltd has announced that it has signed a letter of intent for the sale of the Landmark Macau, which is one particular its two significant properties in Macau. In accordance to the filing made with the Hong Kong Stock Exchange, the buyer is an existing shareholder of the company.
2.  The Landmark Macau is an integrated complex comprising a 5-star hotel, a casino and luxury buying facilities. The property functions Macau's very first themed casino referred to as Pharaoh's Palace Casino, which operates beneath an SJM Holding's gaming license.
3.  The company's co-chairman and chief executive, David Chow Kam Fai known as the transaction an essential a single for the business including that the letter of intent would perform as a framework to operate out the terms and conditions of the sale.
4.  The Landmark Macau has been valued at HKD5.47 billion at the end of 2015 as per an independent valuation report quoted by the business in its filing. The casino has reported gaming income of HKD744.4 million in 2015, a decline of 34.seven % year-on-year. Macau Legend itself has posted a net reduction of HKD268.five million for 2015 against a net revenue of HKD478.9 million in 2014.
5.  The firm is hoping to use the proceeds of the sale to concentrate on strengthening its other ventures. In a statement Macau Legend stated,
6.  As such, the organization anticipates that the proposed disposal will enable the group to expand its firms in Macau and overseas without taking on too much extra leverage.
7.  The organization has stated in its filing that it will be focusing on projects in Southeast Asia exactly where China's new policy initiative One particular Street, One particular Belt is encouraging investment into tourism associated ventures. Below this new initiative launched by Chinese President Xi Jinping, nations along the Silk Street Financial Belt are getting encouraged to connect and improve trading relations by means of development of infrastructure.
8.  The proceeds will also advantage the company's Macau Fisherman's Wharf project which is at the moment being redeveloped. The company is constructing new amenities in the complicated in addition to renovating the existing ones. http://coastofutopia.com/handicapping-the-conference-tourneys/ The new Harbourview Hotel in the Wharf has already had a soft launch and in accordance to Mr. Chow, the building of a 2nd hotel named the Legend Palace Hotel will be wrapped up by this June.
9.  Macau Legend is also developing a significant casino resort in Cape Verde, an African island nation, at the cost of €250 million.
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