Gaming firm Macau Legend Development has confirmed the sale of its Savan Legend casino resort in Laos for $39 million.
According to a stock filing sent to Hong Kong’s exchange on Thursday, the expected gain before tax from the disposal will be around $6 million.
The intention to sell the casino resort in Laos was initially announced by the group in June, as part of its strategic reallocation of resources towards its business operations in Macau.
The property was set to be sold to Shundo Yoshinari, a Japanese citizen with no links to the company, for a price of $45 million.
However, the consideration has now been revised to $39 million, with Shundo Yoshinari remaining the purchaser.
Yoshinari will acquire the entire equity interest in MLD Resorts Laos, an indirect wholly-owned subsidiary of Macau Legend, which entirely controls Savan Legend.
