• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 6 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Macau Legend inks deal to sell Laos casino Savan Legend for US$45 million

Ben Blaschke by Ben Blaschke
Wed 14 Jun 2023 at 05:27
Macau Legend eying Laos, Cambodia, Vietnam expansion

Savan Legend in Laos

90
SHARES
2.3k
VIEWS
Print Friendly, PDF & Email

Macau Legend Development Ltd, the owner of the Macau Fisherman’s Wharf precinct and operator of satellite casino Legend Palace, has reached an initial agreement to sell its Laos casino, Savan Legend, in a US$45 million deal.

The company revealed overnight that it has signed a Letter of Intent with Japanese businessman Shundo Yoshinari that would see him acquire Savan Legend pending the completion of due diligence and satisfaction of several condition precedents.

Should the deal go through, Yoshinari will acquire the entire equity interest in Macau Legend subsidiary MLD Resorts Laos Limited, which wholly owns Savan Legend.

Outlining the reasons for the sale, Macau Legend said, “Although the gaming and hotel business in Lao PDR was profit-making for the financial year of 2022, its financial performance is unstable and such business is subject to increasingly onerous restraints in Lao PDR, thereby limiting its profitability in the future.

“If the Potential Disposal materialises, the Group can reallocate more financial resources to its business operation in Macau and for overall future development. The Board considers that the entering into of the Letter of Intent and the Potential Disposal is in the interests of the Company and the Shareholders as a whole.”

Among the condition precedents listed by Macau Legend are that Savan Legend enters into a flat tax agreement with the government of Lao PDR on terms agreed by all parties, that the term of the initial gaming license shall be 99 years and that there are no adverse terms to Mr Yoshinari contained with the land tenancy certificate.

The company said it expects to be paid the full US$45 million balance within three months of signing a non-disclosure agreement.

Macau Legend, which earlier this year signed a new three-year deal with SJM to continue running the casino at Legend Palace on the Macau peninsula, recently reported a loss of HK$607.2 million for the 12 months to 31 December 2022 – impacted by the COVID-19 pandemic and related border restrictions.

RelatedPosts

MGM Cotai

Bill Hornbuckle: Macau promotional environment now locked in place despite rapid return of VIPs

Fri 5 Sep 2025 at 06:45
A New Macau

Macau GGR now seen hitting US$31.8 billion as Jefferies again upgrades 2025 revenue forecast

Fri 5 Sep 2025 at 05:40
Ciarán Carruthers: Crowning glory

Crown Resorts rolls out AI to improve player protection abilities

Fri 5 Sep 2025 at 05:37
Travellers Group set to take majority equity position in development of Manila’s LETX hotel and casino to pave completion roadmap, planned to become operator upon launch 

Suntrust begins process of transferring control of Manila’s LETX project to Travellers by acquiring shares in new entity

Thu 4 Sep 2025 at 12:02
Load More
Tags: casinoLaosmacau legend development ltdSavan Legend
Share36Share6
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

Vietnam’s new Van Don integrated resort project scheduled for 2032 opening

Vietnam’s new Van Don integrated resort project scheduled for 2032 opening

by Ben Blaschke
Sat 6 Sep 2025 at 09:34

A new US$2 billion integrated resort to be built by Vietnamese development giant Sun Group in Van Don, Quang Ninh Province is planned to open in 2032, the company has informed Vietnam’s central government. The update, reported by local media...

IAG announces 19 sponsors of IAG EXPO’s Manila After Dark Official Welcome Event at Newport World Resorts on Monday 8 September

IAG announces 19 sponsors of IAG EXPO’s Manila After Dark Official Welcome Event at Newport World Resorts on Monday 8 September

by Newsdesk
Fri 5 Sep 2025 at 10:26

Inside Asian Gaming is delighted to announce a total of 19 sponsors for Manila After Dark (MAD) next Monday 8 September – the official welcome event for IAG EXPO, taking place at Manila’s Newport World Resorts. Running from 8 to 10 September,...

MGM Cotai

Bill Hornbuckle: Macau promotional environment now locked in place despite rapid return of VIPs

by Ben Blaschke
Fri 5 Sep 2025 at 06:45

Macau’s notoriously aggressive promotional environment has settled into a rhythm, according to MGM Resorts CEO and President Bill Hornbuckle – despite competition in the premium gaming segments rising as former junket players return to the city in swathes. Hornbuckle discussed...

AGEM Index up 14.4% in October on Aristocrat, Light & Wonder stock price gains

AGEM Index grows 5% in August as Konami, Aristocrat show strong stock performance

by Newsdesk
Fri 5 Sep 2025 at 05:56

The AGEM Index – a monthly stock performance guide comprising 10 global gaming suppliers – grew by 5.0% month-on-month or 93.66 points to 1,983.73 points in August, with Konami seeing the largest positive contribution. Konami had only last month been...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English