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Tag Archives: Laos

Laos – Channel Paradise completes EGT Multiplayer install in Laos

EGT Multiplayer has completed an install in Vientiane in Laos with the help of its partners for Asia; Channel Paradise. A spokesperson said: “While strengthening our partnerships and continuing the rewarding cooperation with the local establishments, we expanded one of our previous installations in the capital. After receiving praise for the excellent performance of our…

Laos – US Treasury slaps sanctions on Kings Romans Casino in Laos

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on a criminal casino owner in Laos. It said that Zhao Wei, a Chinese national, and the co-owner and director of Kings Romans Casino located within the Golden Triangle Special Economic Zone (GTSEZ) in Laos, is engaged in drug trafficking,…

Laos – Macau Legend signs definitive documents to buy Savan Vegas

Macau Legend Development has signed the definitive sale documents, including the Project Development Agreement, the Asset Purchase Agreement, the Flat Tax Agreement and Land Lease Agreement with a company wholly-owned by the Government of the Lao People’s Democratic Republic to purchase the Savan Vegas Hotel and Entertainment Complex, a full-service casino, hotel and resort located…

Laos – Deadline extended for Macau Legend’s purchase of Savan Vegas

The deadline for Macau Legend Development’s proposed US$42m acquisition of the Savan Vegas Hotel and Entertainment Complex in Laos has been extended by a month until the end of August. The deal will be extended further until September 10 if necessary, the company said in a filing to the Hong Kong Stock Exchange. The casino…

Laos – Macau Legend moves into international waters with Laos purchase

With its operations in Macau beginning to stabilise, Macau Legend Development Limited is looking to diversify its revenue streams with the purchase of Savan Vegas Hotel and Entertainment Complex in Laos. The operator of Fisherman’s Wharf, Pharaoh’s Palace Casino and Babylon Casino in Macau, will spend US$42m on buying Savan Vegas from the Ministry of…

Laos – Sanum Investment sues Lao Government over Savan Vegas

Lao Holdings, the parent company of Sanum Investments Limited, has filed three legal actions in the past week against the Lao Government for violating the 2014 settlement agreement reached by both parties, stipulating the sale of the Savan Vegas Hotel and Casino, and other assets, for maximum value to the benefit of all parties. These…

Laos – Six companies to bid for Savan Vegas

Six companies have expressed an interest and have been approved to bid for the purchase of Savan Vegas Hotel and Entertainment Complex, a fully-fledged casino hotel located in Savannakhet in Laos, close to the Thailand border. San Marco Capital Partners (SMC), the exclusive sales agent working on behalf of the Government of the Lao People’s…

Laos – Laos government looks for owner for Savan Vegas

Savan Vegas Hotel and Entertainment Complex, a fully-fledged casino hotel located in Savannakhet in Laos, close to the Thailand border, has been put up for sale by the Laos government. The sale will be handled by US private investment company San Marco Capital Partners who will hold a competitive bid process on behalf of the…

Laos – Government backs US$10bn casino resort project

Malaysian investor Asean Union Group has launched its second venture overseas – the Asean Paradize Savan City, in Laos with total investment of US$10bn, comprising an offshore financial centre, entertainment, casino, and communities for foreigners. Chew Chai Jin, chief executive officer of Asean Union Group of companies, said the development is a joint venture involving…