Macau resort operator Macau Legend said it expects to record a full-year 2020 net loss of around HK$2 billion (US$250 million).
The announcement, contained in a filing with the Hong Kong Stock Exchange, blamed the red ink on the “social distancing measures and travel restrictions imposed by government authorities in response to the Covid-19 pandemic, which have severely declined the tally of visitor arrivals to Macau and Laos during 2020.”
The company indicated that it has undertaken various measures to cope with the situation, including cuts to operating costs and expenses.
The full-year results will be published later this month, Chairman and CEO Levo Chan said in the filing.
Macau Legend owns and operates three casinos in Macau under revenue-sharing agreements with gaming concessionaire SJM Holdings and a casino in Laos.
