Macau Legend Development : Announcements and Notices -

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VOLUNTARY ANNOUNCEMENT

COMPLETION OF THE ACQUISITION

Reference is made to the announcement dated 27 February 2019 (the "Announcement") of Macau Legend Development Limited (the "Company"), in relation to the acquisition of the Sale Shares and the Shareholders' Loans. Capitalised terms used in this announcement shall have the same meanings as defined in the Announcement unless otherwise defined.

The Board is pleased to announce that all the conditions precedent for the Acquisition have been fulfilled and the Completion took place on 16 April 2019 in accordance with the terms and conditions as set out in the Sale and Purchase Agreement. On the same date, (i) Macau Legend Investment, Raising Investment, Lai Va Investment and the Target Company entered into the Shareholders Agreement; and (ii) Macau Legend Investment and the Target Company entered into the Management Services Agreement, details of which have been set out in the Announcement. To streamline the board composition and structure, the parties to the Shareholders Agreement have agreed that Raising Investment shall be entitled to appoint up to three directors and Macau Legend Investment shall be entitled to appoint up to two directors to the board of the Target Company. Upon Completion, the Group's investment in the Target Company will be accounted as "interests in associates" in the consolidated financial statements of the Group and the consolidated financial results of the Target Company will not be consolidated into the accounts of the Company.

By order of the Board

Macau Legend Development Limited

Chow Kam Fai, David

Co-chairman, executive Director and

chief executive officer

Hong Kong, 16 April 2019

As at the date of this announcement, the executive Directors are Chow Kam Fai, David, Lam Fong Ngo (Chow Kam Fai, David as her alternate), Sheldon Trainor-DeGirolamo and Chow Wan Hok, Donald; the non-executive Directors are Tong Ka Wing, Carl and Ho Chiulin, Laurinda; and the independent non-executive Directors are Fong Chung, Mark, Xie Min and Tam Wai Chu, Maria.

* for identification purpose only