Macau Legend Development Ltd. says Phase I of a planned hotel and casino complex in Cape Verde will be finished by the end of 2020, according to information presented to investors last month.
In 2015, Macau Legend head David Chow signed an agreement with Cape Verde’s government on the planned construction of the Gamboa/Santa Maria project. The cornerstone was laid in February 2016.
The completed complex will be the largest tourist venture in Cape Verde, the capital of the republic of Cabo Verde in the central Atlantic. It will represent a total investment of €250 million (US$277 million), or about 15 percent of the country’s gross domestic product, according to media reports. It will include the first legal casino in the country as well as a 250-room hotel, a swimming pool and various restaurants, bars and shop facilities.
The government has stated that “the other phases of the project are subject to market conditions and new policies adopted by Cabo Verde, aimed at mutual benefit.”
