Gaming services company Macau Legend Development will invest at least 250 million euros (US$273.7 million) in an integrated leisure entertainment project in Cape Verde through its two local subsidiaries.

David Chow, Chief Executive and Co-Chairman of Macau Legend, and Leonesa Fortes, Cape Verde’s Minister of Tourism, Investments and Business Development, signed the agreement on Wednesday in Macao, said a company filing to the Hong Kong Stock Exchange and a company press release.

Mr Chow was quoted as saying the construction of the project, which includes a casino, would start this year and be completed in three years. The agreement sealed on Wednesday also granted one of Macau Legend’s subsidiaries in Cape Verde a 25-year casino concession for the island nation.

“The co-operation this time does not only facilitate the economic and tourism exchanges between Macao and Cape Verde, but more importantly it reflects the bridging role of Macao in Portuguese-speaking countries,” Mr Chow said.

Ms Fortes was quoted by Macao newspaper Macau Daily News as saying she hopes her nation could attract 1 million visitors – especially Chinese visitors – a year, after the completion of the project. The resort would be the largest investment project by private enterprises in the archipelago, she added.

With a total floor space of 15,270 square metres, the project will include a casino, a hotel, a convention centre, a museum, retail and catering facilities, and a yacht marina.