Laos' Savan Vegas Hotel casino is up for sale

GGR Asia is reporting that the Savan Vegas Hotel and Entertainment Complex, a casino hotel in Savannakhet, Laos, is on the market and accepting competitive bids.

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

The site also notes that 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.