Asian casino operator, Macau Legend Development Limited, has reportedly declared that it will be paying shareholders a ‘special dividend’ worth some $63.88 million after earlier recording a 24.8% increase year-on-year in total 2017 revenues to just over $234.45 million.
According to a Thursday report from GGRAsia, Macau Legend Development Limited announced the singular hand-out the previous day via a short filing with the Hong Kong Stock Exchange before detailing that July 12 is to see investors receive $0.01 for every share that they hold.
Macau Legend Development Limited is responsible for the Savan Legend Hotel and Casino in Laos and opened its 223-room Legend Palace Hotel development in Macau’s Fisherman’s Wharf district in February of 2017. The firm utilizes gaming licenses held by SJM Holdings Limited to run the former Portuguese enclave’s Pharaoh’s Palace Casino inside The Landmark Macau hotel along with the nearby Babylon Casino Macau.
“The board has resolved that the special dividend will be payable on July 12, 2018, to the shareholders of the company whose names appear on the register of members of the company on July 4, 2018, being the record date for the special dividend,” read the Wednesday filing (pdf) from Macau Legend Development Limited.
Despite the windfall for investors, GGRAsia reported that the casino operator’s future is far from certain as March 27 saw it detail that its net loss for the twelve months to the end of December had widened by almost 83% year-on-year to stand at just short of $64.64 million.