RGB International-led consortium shortlisted to bid for casino property in Laos

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KUALA LUMPUR (March 25): RGB International Bhd said its unit RGB (Macau) Ltd, along with consortium members Datuk Chuah Kim Seah and Ung Chi Fong, has submitted an expression of interest to participate in the bidding to purchase and operate the Savan Vegas Hotel and Entertainment Complex in Laos.

In a filing with Bursa Malaysia today, RGB International said the consortium has been shortlisted as qualified participants to participate in the sales process where bids to purchase and operate the complex are to be submitted at a later date.

"Further announcement to Bursa on any material development on the (matter) will be made in due course," it added.

RGB (Macau) is a wholly-owned subsidiary of RGB Ltd, which in turn is a wholly-owned unit of RGB International.

RGB International was referring to the announcement by San Marco Capital Partners (SMC), the exclusive sales agent working on behalf of the government of Laos, of the conclusion of the qualification process for those interested in participating in the competitive sale process for the complex.

The sale process was originally announced in October 2015. The complex includes a casino, a hotel and numerous entertainment and leisure offerings.

Besides RGB International, other parties shortlisted for bidding are Groupe Lucien Barriere, Iao Kun Group Holding Co Ltd, Macau Legend Development Ltd, PGP Investors LLC and Silver Heritage Ltd.

RGB International shares closed unchanged at 15.5 sen today, for a market capitalisation of RM204.3 million.