Malaysia-headquartered manufacturer of gaming machines for the international casino industry RGB International Bhd said that its subsidiary RGB (Macau) Ltd. together with consortium members Ung Chi Fong and Datuk Chuah Kim Seah have been qualified to take part in the selling process of Laos-based Savan Vegas Hotel and Entertainment Complex.
RGB (Macau) is a wholly-owned subsidiary of RGB Ltd. The latter company, in turn, is a wholly owned subsidiary of RGB International. Through its subsidiaries, the parent company manufacturers, distributes, and services gaming machines for the gambling and entertainment industries.
The company said in a filing to Bursa Malaysia that it had formerly submitted an expression of interest to bid for the purchase and operation of the said venue, which features a hotel, casino, and a number of entertainment and leisure options. RGB also pointed out that announcement on any material development will be made in due manner.
The sale process was announced by the government of Laos on October 19, 2015. A solicitation of interest was issued, providing a full description of the venue and what it features. Laos officials then reviewed all expressions of interest submitted by a number of interested developers.
Apart from RGB (Macau) and its consortium partners, other shortlisted bidders to be announced earlier today were Iao Kun Group Holding Company Ltd., Groupe Lucien Barrière, PGP Investors, LLC, Macau Legend Development Ltd., and Silver Heritage Ltd. The qualified businesses were revealed today by San Marco Capital Partners. The company is known for providing corporate advisory, financial, and transaction services. It has been hired by the government of Laos to act as the exclusive sales agent for the proposed sale of the above-mentioned hotel and casino complex.
The San Marco Capital Partners also announced today that all qualifiers will have up to May 10, 2016 to submit their bids for the purchase and operation of the hotel and casino complex. The bids will be opened at an official ceremony that will take place in Vientiane. The preferred candidate that would eventually buy the Savan Vegas Hotel and Entertainment Complex will be granted the right to manage the venue for a period of 50 years.
