Border-casino operator Donaco International Ltd experienced a “62 percent reduction in the average daily headcount and a 42 percent reduction in daily hotel occupancy” at its DNA Star Vegas gaming resort in Poipet, Cambodia, after travel restrictions were imposed on citizens in neighbouring Thailand following a military clash between the nations on May 28.
Donaco gave the information in a Monday update to the Australian Securities Exchange. It didn’t mention what impact – if any – the situation had on gaming business at DNA Star Vegas.
Though the company noted: “This trend is expected to impact Star Vegas’ profits for the month of June.”
In its fiscal third quarter ending March 31, Donaco had reported daily average visitor volume of 928 players at DNA Star Vegas (pictured in a file photo).
Multiple media outlets had reported that troops from Cambodia and Thailand exchanged fire on May 28 close to Chong Bok, which is in Thailand’s Ubon Ratchathani province, and near where the borders of Cambodia, Thailand and Laos meet. One Cambodian soldier was reportedly killed.
“Following a brief military clash on 28 May 2025, tensions along the border between Thailand and Cambodia have heightened,” stated Donaco in its update.
It added: “The Thai government subsequently imposed measures impacting Donaco’s Star Vegas operations, such as reduced border crossing hours and a ban on Thai nationals crossing the border for non-essential travel, such as for tourism and gambling in casinos located in border towns.”
The firm said the restrictions began on June 8. Steps included reduced operating hours at key border crossings, including the Aranyaprathet-Poipet border checkpoint.
The company also noted: “As a result of these measures, Star Vegas has observed a reduction in activity at its operations, including a 62 percent reduction in the average daily headcount and a 42 percent reduction in daily hotel occupancy since the measures were imposed.”
Donaco stated: “While both governments have expressed commitments to resolving the border tensions, management will continue to monitor the situation closely and update shareholders as appropriate.”
The casino group said in its update that “Cambodia and Thailand have a long-standing history of disputes over mutual borders due to conflicting territorial claims”.
It added: “While both governments have expressed a commitment to resolving the border tensions, bilateral talks held on 14 June 2025 did not ultimately result in a resolution.
“While the current situation is relatively calm, underlying disputes persist, and the Thai government continues to impose measures impacting movements across the border.”
Donaco had been reporting a fluctuating recovery over a number of quarters in its earnings – for the Poipet operation and at its Aristo International Hotel at Lao Cai, in Vietnam, near that country’s border with China – following disruption wrought by the Covid-19 pandemic.
In the quarter to March 31, revenue was down year-on-year and quarter-on-quarter.
Prior to the May 28 border incident between Cambodia and Thailand, Donaco had flagged to shareholders a delay in a deal that would see one of its investors – a Hong Kong-based investment fund – acquire 100 percent of Donaco’s shares.
