Macau Legend sells Laos resort

Macau Legend Development Limited has sold its Savan Legend resort in Laos, having obtained all necessary government approvals. According to a filing late last week to the Hong Kong stock exchange, the purchaser is Eminent Innovations, a company incorporated in the British Virgin Islands. The transaction, initially reported in a December 2023 filing, stated MLD Laos, a subsidiary of Macau Legend, intended to sell the resort to Japanese national Shundo Yoshinari for USD39 million. The expected gain before tax was estimated at HKD47 million.An earlier filing, dated June of the previous year, indicated both parties had agreed on a sale price of USD45 million.