San Marco Capital Partners Provides Update On The Sale Process For The Savan Vegas Hotel & Entertainment Complex
San Marco Capital Partners (SMC), the exclusive sales agent working on behalf of the Government of the Lao People’s Democratic Republic, announced today the conclusion of the qualification process for investors interested in participating in the competitive sale process to purchase and operate the Savan Vegas Hotel and Entertainment Complex.
Undertaken pursuant to the Law on Investment Promotion No. 02/NA dated July 8, 2009 and other applicable laws, regulations and decrees of the Lao PDR, the sale process was announced on October 19, 2015 via the issuance of a Solicitation of Interest that provided an overview of the Complex and the investment opportunity. Located in Nongdeune Village, Kaisonphomvihanh District, Savannakhet Province of the Lao PDR, the Complex includes a full-service casino, a hotel and numerous entertainment and leisure offerings. Upon review of interested investors’ expressions of interest and qualification materials, including information on financial capability and operational expertise, the Government of the Lao People’s Democratic Republic has determined the following parties as qualified to participate in the sales process:
Groupe Lucien Barrière
Iao Kun Group Holding Company Limited
Macau Legend Development Limited
PGP Investors, LLC
RGB (Macau) Limited, Mr. Datuk Chuah Kim Seah and Mr. Ung Chi Fong (Consortium)
Silver Heritage Limited
Bids to purchase and operate the Complex are to be submitted on May 10, 2016 and will be opened in a public ceremony in Vientiane, Lao PDR. The winning bidder will receive the Complex assets and a concession agreement granting it the right to operate the Complex for a 50-year period.