Silver Heritage assigns Laos EGM accords to PAL

Silver Heritage has assigned its revenue sharing agreements to manage electronic gaming machines at Dansavanh Nam Ngum Resort and Casino in Laos to Pan Asia Leaders.

Under the accord, Silver Heritage provided electronic gaming machines and services to the resort under a revenue sharing agreement. Pan Asia Leaders agreed to take on those accords for $500,000. In addition, Pan Asia will pay a fixed monthly amount to lease certain EGMs, which are owned or managed by the group.

Australia-listed Silver Heritage said the assignments will optimize its current agreements at the resort and help it to reduce overhead and variable costs at its Laos-based operations.

The company also said the assignments are in line with its strategy to focus resources on the Tiger Palace Resort Bhairahawa development and its casino operations in Nepal and Vietnam.

Tiger Palace is the first casino resort along the India-Nepal border and is scheduled to open in early 2017. It will feature a 2,471 square-meter casino floor along with a wide range of entertainment, dining and conference options.