Macau Legend

Macau Legend raises $174m for casino complex

The hotel and casino operator raised $174 million to go towards redeveloping a casino complex in Macau, the world’s largest gambling destination.

Hotel and casino operator Macau Legend Development last week raised about HK$1.35 billion US$174 million from a sale of new shares to revamp the largest casino complex in the Macau peninsular by site area, Macau Fisherman’s Wharf.  

The firm, which operates three casinos in the former Portuguese colony, said on Friday it had placed up to 188 million shares at HK$7.25 each, a discount of 7.76% to the closing price of HK$7.86 on January 16.

As a result, the shares fell 1.53% on Friday to HK$7.74 well above the placement price.

Macau Legend first listed its shares on...

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