Savan Vegas deal delayed further

HK-listed Macau Legend Development Ltd says it has postponed the despatch date of a circular in relation to the Savan Vegas Hotel and Entertainment Complex in Laos.

In a filing to the Hong Kong Stock Exchange, the company said “additional time is required to finalise the information in the Circular, including the financial information and the valuation report of the Savan Vegas Hotel and Entertainment Complex.”

In May, the company announced it has entered into a project development agreement with the Laos government to purchase the Savan Vegas Hotel and Entertainment complex.

The Lao government agreed to sell the project at the consideration of US$42 million.

The agreement allows Macau Legend to operate the project’s gaming tables, semi-automated gaming tables and EGMs, either in the casino or in the form of interactive gaming.

The company said it expects to despatch the circular on or before July 31, 2016.