Laos gov’t cancels sale of disputed Savan Vegas Hotel and Casino: RGB

The government of Laos has called off the process to sell the contested Savan Vegas casino, according to one of the companies shortlisted for the tender.

Electronic gaming machines maker RGB International Bhd said in a filing to Bursa Malaysia that “the tender for sales process for the Savan Vegas Hotel and Entertainment Complex in Lao People’s Democratic Republic was terminated by the government of Lao PDR.”

RGB International didn’t mention why the process was cancelled.

Back in March, U.S.-based private investment firm San Marco Capital Partners LLC came up with a shortlist of the candidates for the acquisition of Savan Vegas complex. Aside from RGB, which was part of a consortium, other parties named in the shortlist include Nasdaq-listed casino junket investor Iao Kun Group Holding Company Ltd., Hong Kong-listed casino services firm Macau Legend Development Ltd., Hong Kong-based casino and gaming hall operator Silver Heritage Ltd, European casino operator Groupe Lucien Barriere, and U.S.-based investment firm PGP Investors LLC.