Millions in outstanding loans could mean the end of satellite casino operator Macau Legend Development.
Macau satellite casino operator Macau Legend Development (MLD) has posted losses for 2024 totalling HK$667.23 million (£66.7 million/€80 million/$86 million), up from just HK$4.9 in 2023.
Net liabilities of HK$2.51 billion, including loans of HK$2.41 billion, “will be due for repayment within the next 12 months”, MLD acknowledged in a 28 March filing.
Past failure to comply with “certain loan covenants” has rendered loans of HK$2 billion “immediately repayable if demanded by the creditor banks”, MLD added. The Macau-based firm said those loans “may not be repayable. Even the current HK$166.4 million in…
