Macau Legend Development Limited has revealed that it may call an early end to its current its existing services agreement with Macau concessionaire SJM Resorts S.A. for the operation of a satellite casino at Legend Palace on the Macau peninsula before it officially expires on 31 December 2025.
In a filing, the company said that while no final decision has yet been made, it “may, or may not, consider to early terminate the Service Agreement before 31 December 2025 … subject to the operational data and performance of the gaming business of the Group and the approval of early termination of the Service Agreement from the relevant [authorities].”
The existing Service Agreement, dated 30 December 2022, encompasses the provision of services in “selling, promotion, advertising, customer development and introduction, coordination of activities and other related services to SJM”.
Since the Macao SAR Government and affected concessionaires announced on 9 June that they would shutter all 11 of the city’s satellite casinos by the end of this year, two of those satellites have closed early – namely SJM’s Casino Grandview and Melco’s Grand Dragon.
Macau Legend, which operates Legend Palace as well as the surrounding Macau Fisherman’s Wharf precinct, recently detailed multiple uncertainties relating to its ability to continue as a going concern with the company impacted by an impairment loss of HK$1.27 billion (US$163 million) for the six months to 30 June 2025 related to its Macau property, equipment and property investments.
Specifically, the company explained that the loss of its gaming business adds further uncertainty as to whether the Group can achieve its long-term plans.
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