In May, 2016, Macau Legend Development Ltd, a Hong Kong-listed company, revealed that it had come to an agreement with the Laos government to take over the Savan Vegas Hotel and Entertainment complex. However, the deal has now been further postponed after the operator stated that additional time was needed in order to finalise the information in the circular such as financial details and valuation report of the property.
The company announced that despatching the circular would take place on or before 31st of July, 2016.
Macau Legend, under the deal, is going to get a 50-year monopoly in the Khammouane, Bolikhamsa and Savannakhet provinces. In return, the company would have to pay a price of $42 million or around HK$326 million. The operator, additionally, would receive green light to operate the gaming tables of the property alongside the semi-automated gaming tables and EGMs.
The news about the deal between the Laos government and Macau legend was revealed in a press release that stated the agreement could be extended for additional 49 years if all terms were met in the initial period of 50 years.
Savan Vegas was opened on 1st of January, 2009 and features 80 table games and 500 gaming machines. Its casino floor is 53,281 square feet and comes with executive lounges and VIP parlours. The property amenities include three restaurants, two bars, a cafe and the largest swimming pool in southern Lao. The establishment also offers accommodation in a 499-room hotel, massage facilities and a luxurious spa.