Border-casino operator Donaco International Ltd swung to a fiscal first-half net profit after tax (NPAT) of AUD5.70 million (US$3.71 million), versus a loss of AUD36.74 million in the prior-year period.
The results for the interim period to December 31 were issued to the Australian Securities Exchange on Wednesday. No dividends were paid for the reporting period.
Group revenue rose 96.3 percent year-on-year, to AUD19.45 million. Group earnings before interest, taxation depreciation and amortisation (EBITDA) went up 228.0 percent year-on-year, to AUD10.79 million.
Donaco runs the DNA Star Vegas resort at Poipet, on Cambodia’s border with Thailand, and the Aristo International Hotel (pictured) at Lao Cai, near Vietnam’s border with China.
Porntat Amatavivadhana, the group’s non-executive chairman, was cited in a company press release as saying: “The positive impact of the recently-launched Cambodian government campaign to attract Thai visitors has significantly benefitted Star Vegas.”
He added: “Aristo commenced a campaign to attract VIP visitors, which also led to increased revenue.”
A company presentation filed to the bourse said DNA Star Vegas had net gaming revenue of AUD12.33 million in the six months to December 31, up 45.3 percent year-on-year.
The press release noted: “Along with the government initiative, Star Vegas is exploring quality tour groups to attract casino patrons to the premises and implemented a membership loyalty programme in January 2024 as a means to retain customers.”
Aristo International’s net gaming revenue for the period was AUD4.16 million, a jump of 1,741 percent on the fiscal first-half previously. That was helped by a 7,380.9-percent leap in VIP table game turnover, to AUD596.23 million.
“The current construction of the Sapa Airport in the region positions Aristo for further economic upswing upon its [the airport’s] opening in 2025, as projections indicate up to 1.5 million annual passengers,” stated Donaco in its press release.
The company said it had a “strong” cash position as of December 31, holding AUD25.12 million.
