Macau Legend Development Ltd. has officially completed the sale of its Savan Vegas Hotel and Casino in Laos, marking a significant milestone for the company’s strategic restructuring plan. The deal, which was announced in November 2020, has now been finalized, with Macau Legend selling its entire 75% stake in the property to Sanum Investments Ltd. for an undisclosed sum.
The Savan Vegas Hotel and Casino, located in the province of Savannakhet in southern Laos, is one of the largest and most well-known casino resorts in the country. The property features a luxurious hotel with over 400 rooms, a spacious gaming floor with a wide range of table games and slot machines, as well as multiple dining options, entertainment venues, and recreational facilities.
Macau Legend’s decision to sell its stake in the Savan Vegas Hotel and Casino is part of the company’s broader effort to streamline its operations and focus on its core businesses in Macau. The move comes at a time when the gaming industry in Macau is facing significant challenges, including declining revenues and increased competition from other Asian markets.
In a statement, Macau Legend expressed confidence in the future success of the Savan Vegas Hotel and Casino under the ownership of Sanum Investments Ltd. The company believes that the new owners have the experience and resources to further develop the property and capitalize on its potential in the growing Southeast Asian gaming market.
Sanum Investments Ltd. is a well-established investment firm with a strong track record in the gaming and hospitality industries. The company has expressed its commitment to investing in the development of the Savan Vegas Hotel and Casino, with plans to enhance the property’s facilities and offerings to attract more visitors and drive growth.
The completion of the sale of the Savan Vegas Hotel and Casino represents a significant step forward for Macau Legend as it looks to reposition itself for future success in the rapidly evolving gaming industry. The company remains hopeful that this strategic move will help it weather the challenges facing the Macau market and position it for sustainable growth in the years to come.
