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Casino

Macau Legend completes sale of Laos casino

Friday 17 de May 2024 / 12:00

2 minutos de lectura

(Macau).- Macau Legend Development Ltd, the owner of the Macau Fisherman’s Wharf precinct and operator of satellite casino Legend Palace, has completed the sale of its Laos casino, Savan Legend, as part of a US$45 million deal.

Macau Legend completes sale of Laos casino

The company confirmed via a Hong Kong Stock Exchange filing that Eminent Innovations Limited, a company that is 51% owned by the purchaser, had met the suitability requirements of the government of Lao PDR, and that Macau Legend’s own MLD Laos unit has obtained the necessary consent from the government for the disposal.

Completion of the disposal therefore took place on Thursday 16 May, with all right and obligations transferred to Eminent Innovations to assume operations of the casino.

“The Group no longer has any interest in the Target Company and the Target Company ceased to be accounted as a subsidiary of the Group,” Macau Legend said.

The disposal comes after the company revealed in June 2023 that it had signed a Letter of Intent with Japanese businessman Shundo Yoshinari in relation to Savan Legend.

Macau Legend said at the time that it was selling its Laos casino because its financial performance had been unstable and had been subject to “increasingly onerous restraints in Lao PDR, thereby limiting its profitability in the future.”

The company has stated its intention to focus its energies onto its Macau assets, having in early 2023 signed a new three-year deal with SJM to continue running the casino at Legend Palace on the Macau peninsula.

Categoría:Casino

Tags: Sin tags

País: Macao

Región: Asia

Event

PGS, Perú Gaming Show 2024

12 de June 2024

Gambling regulation in Peru: evolution towards stability and legal certainty

(Lima, Exclusive SoloAzar) - From the repeal of the 20% tax by the Constitutional Court to the implementation of the Reorganisation and Formalisation Law, the regulation of gambling in Peru has undergone multiple changes. In this article, SoloAzar summarises the presentation by Dr. Constante Traverso, lawyer and head of APEJA, during the PGS, who underlines the need for a stable and fair public policy.

Wednesday 19 Jun 2024 / 12:00

Win Systems concludes a successful participation in Peru Gaming Show 2024

(Barcelona).- Win Systems, a leading technology provider for the gaming and entertainment industry, celebrates a successful participation in the recent edition of the Peru Gaming Show (PGS), which took place on June 12th and 13th at the Jockey Convention Center in Lima, Peru. The event was a perfect platform to showcase the company’s innovative solutions and cutting-edge products, specifically designed for the Peruvian market.

Wednesday 19 Jun 2024 / 12:00

The impact of AI on marketing campaigns, a featured topic at PGS 2024 conferences

(Lima, SoloAzar Exclusive).- Rony Vexelman, Marketing Manager of Optimove, presented the conference “Maximizing AI, the evolution of roles in iGaming”, within PGS event, held last week in Peru. From SoloAzar we share the highlights of the talk that shows how AI impacts online gaming and sports betting marketing campaigns.

Tuesday 18 Jun 2024 / 12:00

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