Hong Kong-listed casino services firm Macau Legend Development Ltd says it has agreed to extend the deadline for acquiring a company owning some Cambodian land that could eventually house a Macau Legend-branded “integrated resort”. The extension runs to mid-2020, stated Macau Legend in a Thursday filing.
In December 2018, Macau Legend announced it had agreed to pay the land seller, Wang Jieman alias Wang Kitman, US$90.01 million for the entire stock of a Cambodian company, Howing Enterprises Co Ltd. The buyer said Howing holds about 1,200 hectares (2,965 acres) of land in the Cambodian province of Siem Reap.
Under the deal announced last year, the transfer of the land and its registration under the new ownership was “conditional upon and subject to the satisfaction of certain conditions” on or before an agreed “long stop date”, i.e., December 28, 2019.