Macau Legend Development Ltd, the owner of the Macau Fisherman’s Wharf precinct and operator of satellite casino Legend Palace, has reached an initial agreement to sell its Laos casino, Savan Legend, in a US$45 million deal.
The company revealed overnight that it has signed a Letter of Intent with Japanese businessman Shundo Yoshinari that would see him acquire Savan Legend pending the completion of due diligence and satisfaction of several condition precedents.
Should the deal go through, Yoshinari will acquire the entire equity interest in Macau Legend subsidiary MLD Resorts Laos Limited, which wholly owns Savan Legend.
