• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Cambodia court backs Donaco vs Thai trio on casino lease

Jun 12, 2018 Newsdesk Latest News, Rest of Asia, Top of the deck  


Cambodia court backs Donaco vs Thai trio on casino lease

A Cambodian court has acted to stop three Thai shareholders in casino operator Donaco International Ltd from ending the lease on the land occupied by its Star Vegas casino in Cambodia, the company has announced.

The company told the Australian Securities Exchange on Tuesday that the Banteay Meanchey Court of First Instance had granted an injunction preventing the landlord, Lee Hoe Property Co Ltd, from ending the 50-year lease.

Donaco said the landlord, a Cambodian company, was owned by the three Thai shareholders, who also hold Cambodian passports. It identified the shareholders as Somboon Sukcharoenkraisri alias Lee Bug Leng, Techatut Sukcharoenkraisri alias Lee Bug Huy and Bhuvasith Chaiarunrojh alias Lee Bug Tong.

Donaco said the landlord had threatened to end the lease on what the firm termed “contrived and spurious grounds”. The company said it had previously obtained a court injunction preventing the three shareholders from illegally competing with Star Vegas in Poipet, a city near the Thai border. The shareholders have indicated that they intend to appeal against that injunction.

Donaco also told the stock exchange it was now claiming US$190 million in damages from the three shareholders in a case it has brought before arbitrators in Singapore. The company previously claimed US$120 million in damages.

On June 1, Donaco told the stock exchange that a court in the Australian state of New South Wales had extended until November 2 an order preventing the three shareholders from selling their shares until an arbitration in Singapore was complete.

Donaco says the trio owns about 148 million shares or about 17.9 percent of the issued capital.

The trio sold the Star Vegas casino to Donaco in 2015 for US$360 million. Donaco alleges the three shareholders continue to run a neighbouring business called Star Paradise in competition with Star Vegas, in contravention of an agreement not to compete.

Donaco makes most of its gaming revenue by exploiting the patchwork approach to casino regulation in Southeast Asia. Star Vegas has drawn many patrons from Thailand, where casinos are banned. The group’s Aristo International Hotel in Lao Cai in Vietnam, near the Chinese border, draws many mainland Chinese players. Casino gambling is illegal in China except in Macau, a special administrative region.


  • tweet
Related articles
  • Donaco positive EBITDA for fiscal year 2023, loss widens
    Donaco positive EBITDA for fiscal year...

    Aug 31, 2023  

  • Donaco June quarter EBITDA dips 41pct, poor VIP win rate
    Donaco June quarter EBITDA dips 41pct,...

    Jul 31, 2023  

More news
  • Grand Hyatt MICE revamp before year end: Melco CEO
    Grand Hyatt MICE revamp before year...

    Sep 21, 2023  

  • Melco to help Macau govt revitalise some Inner Harbour piers
    Melco to help Macau govt revitalise...

    Sep 21, 2023  


Latest News

Grand Hyatt MICE revamp before year end: Melco CEO

Grand Hyatt MICE revamp before year end: Melco CEO

Sep 21, 2023  

Lawrence Ho Yau Lung, chairman and chief executive of casino group Melco Resorts & Entertainment Ltd, has confirmed to GGRAsia that before year-end it will start revamp work for the meeting space...
Read More
Melco to help Macau govt revitalise some Inner Harbour piers

Melco to help Macau govt revitalise some Inner Harbour

Sep 21, 2023  

GEN Malaysia stable outlook, rebound taking its time: Fitch

GEN Malaysia stable outlook, rebound taking its time: Fitch

Sep 21, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”Genting Malaysia’s revenue rebound has been slower than our expectations, and the impact on leverage has been compounded by Empire’s weak metrics”

Akash Gupta, Shiv Kapoor and Hasira De Silva

Analysts at Fitch Ratings



Most Popular

  • Macau logs 3.2mln visitors in Aug, only 4pct from overseasMacau logs 3.2mln visitors in Aug, only 4pct from… September 20, 2023
  • Golden Week Macau GGR to be 17pct up on rest of Oct: MSGolden Week Macau GGR to be 17pct up on rest of Oct: MS September 21, 2023
  • No swift resumption of dividends for most Macau ops: GSNo swift resumption of dividends for most Macau ops: GS September 19, 2023
  • LT Game readies new LMG product as Macau recovers: ChunLT Game readies new LMG product as Macau recovers: Chun September 20, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us