nder the 3% average annual growth cap enacted this year, only around 2,000 additional tables will be made available until 2023.
Macau Legend, headed by businessman David Chow Kam Fai, is aiming to raise up to us$ 567,000 net from its initial public offering on the Hong Kong Stock Exchange. Shares are expected to start trading on June 27, with the ticker 1680.
Macau Legend is the result of a merger between hotel-casino Landmark Macau and theme park Macau Fisherman’s Wharf, which also has a casino. The company doesn’t own a casino licence – its casinos are operated under SJM Holdings’s licence as third-party managed properties.
Macau Legend aims to use the net proceeds from its IPO to finance the Macau Fisherman’s Wharf redevelopment project, which includes three new hotels, a marina and entertainment facilities, and to renovate the Landmark Macau.