Shearman & Sterling is advising hotel and casino operator Macau Legend Development Ltd. on a planned $786 million initial public offering in Hong Kong. It is expected to be Hong Kong’s biggest gaming IPO since MGM China Holdings Ltd’s $1.6 billion issue in 2011.

Hong Kong partners Peter Chen and Matthew Bersani are leading the Shearman’s team on the deal. Jorge Neto Valente is advising on Macanese law, while Conyers Dill & Pearman Hong Kong partner Richard Hall is serving as Cayman Islands counsel to the company.  

Macau Legend will list on June 27. The issuer owns the Macau Landmark Hotel and also operates the Macau Fisherman’s Wharf theme park, which includes a casino, hotels, and a convention center.

Proceeds from the offering will help the issuer refurbish its assets and add two new hotels to Fisherman’s Wharf.

CLSA, Citic Securities International and Credit Suisse Group AG are underwriters on the deal. Legal advisors for the underwriters were not listed in documents filed with the Hong Kong Stock Exchange.
 
 
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