Laos Still Chasing $5M From US Casino Investors After 14-Year Feud | WinBar VIP
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Laos Still Chasing $5M From US Casino Investors After 14-Year Feud

Category: Crypto Casino Alpha Source published: Collected: Source: Casino.org
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Laos Still Chasing $5M From US Casino Investors After 14-Year Feud
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Story summary

The government of Laos, one of the world’s few remaining one-party Communist states, is still chasing more than $5 million from the American businessmen behind a casino venture that descended into a bitter legal battle more than a decade ago. A US appeals court last week gave Laos another chance to

📌 Key Highlights & Takeaways

  • The government of Laos, one of the world’s few remaining one-party Communist states, is still chasing more than $5 million from the American businessmen behind a casino venture that descended into a bitter legal battle more than a decade ago.
  • A US appeals court last week gave Laos another chance to

The government of Laos, one of the world’s few remaining one-party Communist states, is still chasing more than $5 million from the American businessmen behind a casino venture that descended into a bitter legal battle more than a decade ago.

A US appeals court last week gave Laos another chance to pursue casino entrepreneur John K. Baldwin and his company, Bridge Capital, for the money.

The ruling is the latest twist in a dispute dating to 2012 that has involved allegations of government interference, a failed settlement, and three international arbitration awards.

Baldwin and fellow casino entrepreneur Shawn Scott arrived in Laos in 2007 with ambitious plans to build a casino business aimed partly at customers crossing the country’s borders.

The pair established Sanum Investments and partnered with Laotian conglomerate ST Group. Baldwin later testified that the investors initially committed around $7.5 million to the venture, which envisaged two casino resorts and several slot clubs.

Their biggest success was Savan Vegas , strategically located near the Friendship Bridge linking Laos with neighboring Thailand across the Mekong River. A planned second resort, Paksong Vegas, was never built.

Within several years, however, the partnership had soured.

In 2012, Sanum and Lao Holdings, an Aruba-based company created to hold the investors’ interests in Sanum, accused Laos of trying to force them out of the country after Savan Vegas had become successful.

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Source: Casino.org.

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