Donaco International Ltd, an operator of a border casino in Cambodia and a border casino in Vietnam, “performed strongly” in the six months to December 31, the group’s fiscal first half. That is according to Porntat Amatavivadhana, the company’s non-executive chairman, in comments accompanying the half-year results published on Friday.
Australia-listed Donaco recorded net revenue of AUD21.8 million (US$13.6 million) for the July to December period, a 12.2-percent increase from a year earlier.
Group-wide earnings before interest, taxation, depreciation and amortisation (EBITDA) stood at nearly AUD11.4 million in the reporting period, up 17.0 percent from the prior-year period.
“At a group level, Donaco performed strongly in the first half of 2025, building on the turnaround strategy implemented over a year ago, and driven by our rigorous financial management and increased tourism activities across our operations,” stated Mr Amatavivadhana.
He added: “Over the past six months, the company has grown its revenue and EBITDA, with both operations generating positive cash flow.”
At the group’s main operation, DNA Star Vegas resort at Poipet, on Cambodia’s border with Thailand, property EBITDA rose by 5.7 percent year-on-year, to AUD8.1 million.
DNA Star Vegas (pictured in a file photo) reported net revenue of just under AUD14.1 million in the six months to December 31, versus AUD13.4 million a year earlier.
DNA Star Vegas “registered an increase of 949 players in average daily visitation” for the July to December period, “driven by the membership loyalty programme Donaco launched in January 2024,” said the firm.
Donaco also runs the Aristo International Hotel at Lao Cai, in Vietnam, near that country’s border with China.
Aristo’s net revenue in the six months to December 31 stood at just under AUD7.8 million, a 27.3-percent increase from a year ago. Property level EBITDA was up 39.9 percent year-on-year, to nearly AUD4.9 million.
In his remarks, Donaco’s non-executive chairman said the company faced “some headwinds, including the Thai government’s recently proposed draft bill to legalise [casino] gambling, which may impact our Star Vegas operation”.
Thailand’s cabinet approved, in principle, the Entertainment Complex Bill for casino liberalisation on January 13. The draft legislation is expected to be sent to the lower house of the National Assembly in early March for discussion and approval, according to media reports.
Despite the challenges, Mr Amatavivadhana said the group was “confident” in its “ability to navigate” any potential negative impacts on the company.
“Our balance sheet remains strong, and we aim to deliver solid results moving forward,” he added.
