The deadline for Macau casino services firm Macau Legend Development’s US$42m deal for the right to operate the casino hotel in Laos known as the Savan Vegas Hotel and Entertainment Complex has been extended from July 29 to August 31.
The closing date for what is known as the Initial Project Development Agreement - first announced in May - will be automatically further extended to September 10 if necessary, said the firm in a filing to the Hong Kong Stock Exchange on Friday. Macau Legend is co-chaired by former Macau legislator David Chow Kam Fai.
A concession licence for the Laos investment for an initial term of 50 years will be issued separately under what is referred to as the Revised Project Development Agreement, Macau Legend added in a separate filing on Monday.
