Macau Legend Development Ltd. has officially completed the sale of the Savan Legend Casino Resort in Laos. The disposal was part of the company’s ongoing efforts to streamline its operations and focus on its core businesses in Macau.
The Savan Legend Casino Resort, located in Savannakhet province, Laos, was originally opened in 2009. Spanning over 32 hectares of land, the resort featured a hotel, casino, spa, and convention center. It quickly became a popular destination for tourists and locals alike, known for its luxurious amenities and world-class gaming facilities.
However, in recent years, Macau Legend has faced challenges in the Laos market, with increased competition and regulatory changes impacting the resort’s profitability. As a result, the decision was made to sell the property and divest from the Savan Legend brand.
The sale of the Savan Legend Casino Resort was facilitated by a consortium of investors, led by local businessman Mr. Thoengsavanh Keokaychay. The transaction was valued at an undisclosed amount, but sources close to the deal suggest that it was a significant sum that would help Macau Legend recoup some of its investments in the property.
In a statement, Macau Legend’s Chairman and CEO, Mr. David Chow, expressed his gratitude to the new owners and the Savan Legend team for their dedication and hard work over the years. He also reiterated the company’s commitment to focusing on its core businesses in Macau, including the renowned Legend Palace Casino and the upcoming Legendale Hotel & Casino.
The disposal of the Savan Legend Casino Resort marks a new chapter for Macau Legend as it continues to navigate the challenges of the global gaming industry. With a renewed focus on its flagship properties in Macau, the company is poised to capitalize on the region’s growing tourism market and solidify its position as a premier destination for luxury gaming and entertainment.
As the dust settles on the sale of the Savan Legend Casino Resort, industry watchers are keen to see what the future holds for Macau Legend and how the company will leverage its strengths to drive growth and success in the years to come.
