Macau Legend confirms Melinda Chan’s retirement from board
Macau Legend Development Ltd has confirmed the retirement of Melinda Chan Mei Yi as Executive Director following its Annual General Meeting (AGM) on Friday. Charles Hongxin Wang also retired as Independent Non-Executive Director at the same meeting. Both individuals chose not to seek re-election in order to pursue other professional commitments.
The company stated that neither Chan nor Wang had any disagreements with the Board and that there were no matters requiring the attention of shareholders or the Hong Kong Stock Exchange. The Board expressed its sincere gratitude for their contributions during their tenure.
Longstanding ties gradually reduced
Melinda Chan, wife of company founder David Chow Kam Fai, had been closely involved with Macau Legend over the years. She once held a stake of nearly 10% and served as interim CEO in 2022 following the detention of then CEO Levo Chan Weng Lin. Though she stepped down from the CEO role in December 2022, she continued as Executive Director until her retirement at the latest AGM.
In April 2025, it emerged that David Chow had significantly reduced his stake in the company to just 0.39%, down from 9.89% as of late March, signalling a steady decline in family involvement with the firm.
Casino operations to cease from 2026
Chan’s exit comes just days after Macau concessionaire SJM Holdings announced it would not renew its satellite 바카라 agreements with nine operators, including Macau Legend. This decision means that from 1 January 2026, the company will no longer be able to operate 바카라 gaming at its Legend Palace property on the Macau peninsula.
Mounting financial losses
The company is already facing serious financial pressure. Macau Legend recently defaulted on a key loan repayment and recorded a US$78 million loss for the year 2024. The loss of 바카라 operations is expected to worsen its financial position unless alternative revenue streams are secured.
New directors appointed
. Lam Shu Yan, aged 40, has been named Executive Director. She is currently the Chief Financial Officer of Macau Legend and brings 18 years of experience in audit and accounting. Before joining the group, she worked with Macau Horse Racing Company Limited between June 2013 and January 2023.
Joining the Board as Independent Non-Executive Director is 32-year-old Ma Cheuk Ling. She has nine years of experience in the accounting sector, having served at the Inland Revenue Department of Hong Kong, the Treasury of the Hong Kong Government, and PricewaterhouseCoopers. Ma currently works as a senior manager at Happy Empire International Limited.
She has also been appointed Chair of the Remuneration Committee and will serve as a member of both the Audit Committee and the Nomination Committee, replacing Wang in these roles.
