A middle aged woman running a small minimart across the street gave me the general stats on the old theater: the original owner, in an act of paternal adoration, named the theater after his daughter, Lit. He was of Lao-Chinese descent and left the country for gay Paris after the defeat of the royalist regime. He, as well as his daughter Lit, have since passed away.
Apparently the place operated normally until 1991. Since then it's been turned into a cultural center, occasionally opening its doors for a movie screening.
I wasn't able to find out when it was built, but the minimart owner says it's been there as long as she's been on the planet. I'm guessing it was built in the 1950's or early 60's. It's definitely architecturally out of character for most of Savannaket, which is more French colonial.
Among the things listed on the poster paper in the lobby: no weapons, sharp item or things that can make people sick are permitted in the theater.
Ticket prices are 3,000 Kip for Lao and 10,000 for foreigners
(On a side note, Savannaket used to have another 2 theaters, The Savan Rama and one which nobody could recall the name of).