Shundo Yoshinari<\/strong>, a Japanese citizen and resident currently unaffiliated with Macau Legend.<\/p>\n\n\n\nThe terms of the deal stipulate that Savan Legend must enter into a flat tax agreement with the government. The initial gambling licence is expected to last 99 years, and the transfer of the operating licence should occur prior to the completion of the sale.<\/p>\n\n\n\n
Macau Legend said the decision was made due to unstable financial performance and increasing restrictions faced by the gaming and hotel business in Laos. While the operation proved profitable in 2022, the company anticipates limited profitability in the future. It also wants to reallocate financial resources and concentrate on its Macau operations.<\/p>\n\n\n\n
It acquired the Savan Vegas property for US$42m,<\/strong> paid out to the Laos government, who had seized the property from its previous operator, Sanum Investments, in 2012 alleging unpaid taxes and penalties.<\/p>\n","protected":false},"excerpt":{"rendered":"The purchaser is a Japanese businessman named Shundo Yoshinari.<\/p>\n","protected":false},"author":226,"featured_media":777011925,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau Legend is divesting its Savan Legend casino resort in Laos to Japanese businessman Shundo Yoshinari for an initial US$39 million, anticipating a pre-tax gain of approximately US$6 million. This strategic divestment is driven by the asset's unstable financial performance and increasing regulatory constraints in Laos, allowing Macau Legend to reallocate capital and concentrate on its primary Macau gaming verticals. The transaction includes a 99-year gambling license and a flat tax agreement with the Laotian government.","focusai_entities":"Shundo Yoshinari, Macau Legend, Hong Kong Stock Exchange, Sanum Investments","focusai_location":"Macau, Laos, Hong Kong, Japan","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.8), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Legend Strategy","query":"What specific operational or regulatory challenges in Laos led to the 'increasing restrictions' cited by Macau Legend, and how might this divestment impact their capital expenditure and market share strategy in Macau?"},{"label":"Laos Regulatory Impact","query":"How does the stipulated 'flat tax agreement' and 99-year gambling license for Savan Legend compare to existing or proposed regulatory frameworks for gaming operations in Laos, and what implications does this have for future foreign direct investment in the country's gaming sector?"}],"footnotes":""},"categories":[157,16338],"tags":[22593],"class_list":["post-777012059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-legend"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777012059"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012059\/revisions"}],"predecessor-version":[{"id":777012077,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012059\/revisions\/777012077"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777011925"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777012059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777012059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777012059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}