No deal: Laos suspends Savan Vegas casino sale

Savan Vegas Laos southeast
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The bidding process on the Savan Vegas casino in Laos has been suspended by government authorities, according to one of the operators which had been shortlisted for its tender.

In a filing to Bursa Malaysia – the Kuala Lumpur stock exchange – electronic gaming machine manufacturer RGB International claimed “the tender for sales process for sales process for the Savan Vegas Hotel and Entertainment Complex was terminated by the government of Lao People’s Democratic Republic.” No other further details were provided.

American private investment firm San Marco Capital Partners revealed in March that RGB was among six international bidders who had pitched themselves to take over the operation of the Seven Vegas, which is located in the country’s Savannakhet Province.

San Marco had been appointed by the Laotian authorities to handle the resale of the property, after the government seized it from original owners Sanum Investments – a sub-company of Dutch firm, Lao Holdings – back in 2012. At the time, the authorities claimed that the company owed over $23m (E20.6m) in back-taxes.

Sanum has denied the claims, and has been a vocal critic of the Laotian government ever since.


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