Skift Take
Spending two thirds of the money raised on just two hotels seems rather short sited, but if there's one thing a politician in a gaming city knows it's that appearances can be deceiving.
Macau Legend Development Ltd., the casino operator backed by former Macau lawmaker David Chow, is seeking as much as $788 million in an initial public offering to finance new hotels in the world’s biggest gaming hub.
The company is offering 2.05 billion shares in Hong Kong at HK$2.30 (30 cents) to HK$2.98 apiece, according to a term sheet obtained by Bloomberg News. N
