Macau Legends Q1 earnings fall to $45.15M

High rollers in Macau fail to lift the first quarter earnings of casino services firm Macau Legend Development Ltd, which has dipped by as much as 3.7 percent to HK$350.6 million (US$ 45.15 million).

Macau Legend’s total revenue was dragged down by a 52.2 percent, year-on-year decline in adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) to HKD35.8 million (US$4.6 million).

Reflecting the negative sentiment in the region, Macau gross gaming revenue for the first three months of 2016 declined by 13.3% year-on-year.

Gross gaming revenue of Macau Legend’s self-run VIP operation, New Legend rose by 58.3 percent, year-on-year to HK$80.6 (US$ 10.38 million), despite facing a challenging gaming landscape.