GGRAsia – Savan Vegas casino hotel in Laos up for sale

Savan Vegas casino hotel in Laos up for sale

Oct 20, 2015 Newsdesk Latest News, Rest of Asia, Top of the deck

Savan Vegas Hotel and Entertainment Complex, a casino hotel in Laos, is being offered for sale via a competitive bid process, according to a press release with Monday’s dateline.

A U.S.-based private investment company – San Marco Capital Partners LLC – is organising the sale as “exclusive sales agent” on behalf of the Laos government, said the statement.

Kelly Gass, president of San Marco Capital Partners, is currently managing director of the complex, which includes “a full-service casino, a hotel and numerous entertainment and leisure offerings”, according to the press announcement. The complex is in Savannakhet, Laos, on that country’s border with Thailand.

In June the Marianas Variety newspaper – quoting district court records held in the U.S. Commonwealth of the Northern Mariana Islands (CNMI) – said the police in Laos were conducting a criminal investigation involving Bridge Capital LLC principal and chief executive John K. Baldwin, relating to the prior operations of the Savan Vegas casino.

Bridge Capital – based on CNMI’s main island, Saipan, is the parent company of Sanum Investments Ltd and Lao Holdings,NV. Those entities previously controlled Savan Vegas and Casino Co Ltd, before the Laos government seized control of the operation and appointed an interim management.