Slide 1: 2019 Annual Results and Business Updates
Stock Code 股份編號:1680 2019 Annual Results and Business Updates 26 March 2020
Slide 2: Summary of financial performance
Business and Performance Updates Summary of financial performance 2019 2018 The Group The Group (excluding Savan (excluding Savan Savan Legend) Legend Group Savan Legend) Legend Group Change HK$m HK$m HK$m HK$m HK$m HK$m % Revenue 2,108 252 2,360 1,612 253 1,865 27 - Gaming 1,670 228 1,898 1,127 231
Slide 3: Business Updates
Business Updates Item Status Timing Legend Palace Hotel - Adding new F&B experiences for VIP customers 2H 2020 and Casino - Footbridge linking the property to Macau Ferry Terminal near completed, will enhance Mass gaming floor Macau Fisherman’s - Renovation on Convention and Exhibition Centre 1H 202
Slide 4: Legend Palace Hotel
Legend Palace Hotel Status A luxury 5 star offering with gaming facilities primarily for our in-house customers Games drop HK$5,652 million (2018: HK$5,058 million) Turnover HK$12,604 million (2018: HK$19,298 million) Net win HK$1,742 million (2018: HK$1,630 million) Hold rate Mass 20.9% , VIP 4.4%
Slide 5: Macau Fisherman's Wharf
Macau Fisherman’s Wharf Status Legend Boulevard Rocks Hotel Harbourview Hotel and Babylon Casino Games drop (Mass) HK$1,324 million (2018: HK$852 million) Turnover (VIP) HK$2,048 million (2018: HK$625 million) Events in MFW Net win HK$314 million MFW hosted more than 210 events in 2019 and had more
Slide 6: Macau Fisherman's Wharf
Macau Fisherman’s Wharf New Private Dining Renovated CEC Hallway Demon Chef Alvin Leung is bringing his Michelin Star The entire CEC is being renovated and the facilities will be Brand to the Legend Palace Hotel with the Soda Port more integrated into the Legend Palace retail and F&B New Fine Dining
Slide 7: Savan Resorts – Savannakhet, Laos
Savan Resorts – Savannakhet, Laos Status 99 year exclusive monopoly on gaming for 3 provinces, 50 year land lease and annual flat tax with no limit on number of tables and electronic gaming machines Games drop HK$4,501 million (2018: HK$4,011 million) Net win HK$225 million (2018: HK$224 million) Ho
Slide 8: Savan Resorts – Savannakhet, Laos
Savan Resorts – Savannakhet, Laos Front Entrance Site Overview Extensive renovations at the existing hotel and casino Site is 50 ha with 80 year lease and 99 year monopoly on including the front entrance for the MGF gaming for the three provinces from 2016 Executive Suite Chopsticks Hotel rooms and
Slide 9: The Suites – Savannakhet, Laos
The Suites – Savannakhet, Laos Status Phase 2 construction has commenced and will be completed by 1H 2020 40 suite boutique hotel, VIP gaming, spa, pool, three F&B facilities, convention room, arcade and micro Phase 2 Exterior brewery The Suites at Savan Resorts is a 40 Suite boutique hotel and casi
Slide 10: The Suites – Savannakhet, Laos
The Suites – Savannakhet, Laos Suites Whiskey and Cigar Bar The suites will range from 39 sqm. to 93 sqm. and will Whiskey and cigar bar will have an outdoor patio and two have 5 star quality appointments and finishings VIP karaoke rooms The Suites Lounge The Bistro VIP lounge will cater to 25 premi
Slide 11: Thakhet Club – Thakhet, Laos
Thakhet Club – Thakhet, Laos Status Entered into a long-term lease agreement for existing slot club, shopping and hotel facilities in Q4 2019 (built but never operated) Stage 1 – 1H 2020: renovating existing facilities and will commence operation of a slot club (Thakhet Club) by 2H 2020 with 100–150
Slide 12: Thakhet Club – Thakhet, Laos
Thakhet Club – Thakhet, Laos Existing Slot Club and Hotel Thakhet Tourism Existing slot club and hotel are being extensively In addition to the scenery, Thakhet is home to many eco renovated and when completed, will able to house 250 tourism activities including rafting, hiking, climbing, slot machi
Slide 13: Thakhet Club – Thakhet, Laos
Thakhet Club – Thakhet, Laos Lounge VIP Gaming Phase 1 will have a new lounge for the slot club and will Phase 2 will have the addition of gaming tables and premium provide a completely upgraded look for the property and VIP facilities All Day Dining VIP Lounge Phase 1 will have an all day bistro wi
Slide 14: Siem Reap, Cambodia
Siem Reap, Cambodia Status Signed Sales and Purchase Deed for 1,200 hectares of Land in Siem Reap Total consideration of USD90M Continuous growing tourism market Tourism 6,600,000 tourists in 2019 Statistics 100 flights per day to Cambodia from SEA and EA 1,400 hotels in Siem Reap GDP growth rate of
Slide 15: Praia, Cape Verde
Praia, Cape Verde Status On 22 July 2015, the Company entered into agreements with the Government of Cape Verde First phase is expected to be completed by late 2021 Structural bridge has been constructed Exterior work on office building has completed Hotel foundation work has commenced Market Over 5
Slide 16: Praia, Cape Verde
Praia, Cape Verde Standard bedroom One bedroom suite Room include element of Cape Verde Culture into Suite room with balcony and spacious living area the interior Design All day dining Asian Fusion Restaurant Restaurant with views over the pool and sea Premium restaurant incorporating cuisine from A
Slide 17: Hengqin, PRC
Hengqin, PRC Status On 27 April 2019, completed acquisition of 21.5% of Hengqin project company for HK$85 million Holds 勵駿龐都廣場 PONTO with construction area of 140,000m2, offering over 300 shops which provide visitors with diversified shopping, dining and entertaining experience Ponto opened its door
Slide 18: Hengqin, PRC
Hengqin, PRC Soft Opening Carnival Ponto Square Introducing the property to the residence of Large open area for events and gathering Hengqin with games, music and dance Ponto Night view Grand Opening Portuguese architecture in the heart of Hengqin, Grand opening event attracting families from Zhuha
Slide 19: Connectivity
Connectivity Status - New Lotus Border construction completed and capacity increased 10 times in preparation of heavy traffic between Macau and Hengqin - Expect to open this year - Railway connecting Zhuhai station to Hengqin was completed 4Q 2019 and will open after rest of the line has been comple
Slide 20: Financial Performance
is Financial Performance
Slide 21: MFW Gross Gaming Revenue ("GGR")
MFW Gross Gaming Revenue (1) (“GGR”) 12% growth in GGR at MFW is substantially higher than Macau market 3,000 GGR in HK$m 2018 2019 +12% 2,500 $2,460 2,000 $2,186 +18% +1% 1,500 1,000 $1,183 $1,036 $1,049 $1,003 +56% 500 $147 $227 0 Legend Palace Babylon VIP Total Mass Mass MLD Management continues
Slide 22: Consolidated Reported Revenue
Consolidated Reported Revenue (1) Total reported revenue in 2019 increased by 27% YoY Reported Revenue Breakdown (HK$m) Historical Reported Revenue (HK$m) Gaming Non-Gaming 2500 $2,360 1,400 $1,278 +27% $462 1,200 2000 $1,865 $1,082 $980 $952 $507 1,000 $913 1500 $1,898 $856 800 $1,358 1000 600 500
Slide 23: Adjusted Consolidated EBITDA
Adjusted Consolidated EBITDA (1) Adjusted consolidated EBITDA increased 5% $500 MFW (excluded Legend Palace) Legend Palace Savan Legend Total $400 $416 $300 $309 $273 $317 $200 $100 $119 $107 $0 $0 ($74) 2018 2019 ($100) ($200) MLD Management are pleased with the strong results at the Legend Palace
Slide 24: Sensitivity Analysis on Savan Resorts
Sensitivity Analysis on Savan Resorts 2019 Savan Resorts, Savannakhet(4) 31% 2019 2018 Change HK$m HK$m % 69% Mass - Savan Resorts GGR 225 224 0.4 VIP - Savan Adjusted EBITDA(1) 107 119 (10) 2018 Resorts Normalized EBITDA(2) 136 118 15 Post tax Normalized Adjusted 106 41 159 27% EBITDA (with actual
Slide 25: Key initiative
Key initiative Continue in building and renewing non-gaming offerings in MFW Macau Growth Focus on bringing more events and promotion to increase traffic to the property Laos Growth Phase 2 of Savan Resorts will increase attractiveness for VIP customers Opening of Thakhet property will bring
Slide 26: Thank You
Thank You Contact Information Principal Office Macau Legend Development Limited Address: Palace Building, Macau Fisherman’s Wharf, Avenida da Amizade, Macau Tel: (853) 2822 2211 Fax: (853) 2822 2266 Executive Director & VP Corporate Business Development Mr. Donald Chow Tel: (853) 2822 2211 Fax: (853