Last December, Macau Legend announced the pending sale of its Savan Vegas casino complex in Laos to Japanese businessman Shundo Yoshinari. After several delays, that sale may finally close by mid-April.
According to GGRAsia, the sale of the Savannakhet casino was due for resolution in February, then was pushed back to March 31, and again to April 15. No reason was disclosed for the delays, but an update noted that the purchaser must be deemed suitable by the Laos government before the property may be transferred.
Last summer, Macau Legend first announced its intention to sell off its holdings in Laos so it could concentrate on its Macau operations. Yoshinari was originally to pay US$45 million for the property, then the price dropped to US$39 million (Macau Legend originally bought Savan Vegas in 2016, paying $42 million).
When the deal finally closes, the businessman will own a 100 percent equity interest in MLD Resorts Laos, described as an indirect wholly-owned subsidiary of Macau Legend, which controls Savan Vegas.
Proceeds from the sale will boost Macau Legend’s cash flow and allow it to invest in its core business at home, where it operates the Macau Fisherman’s Wharf complex and the Legend Palace casino, a satellite operating under the gaming license of concessionaire SJM.
