• 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

Casino op Donaco to buy back up to 5pct of ordinary shares

Oct 16, 2017 Newsdesk Latest News, Rest of Asia, Top of the deck  


Casino op Donaco to buy back up to 5pct of ordinary shares

Australia-listed Asian casino operator Donaco International Ltd announced on Monday the implementation of an “on-market buy-back” for up to 41.5 million shares, to a maximum of 5 percent of its ordinary issued shares.

According to the firm’s filing, the share buy-back exercise is expected to begin on or after October 30, and will run for up to 12 months. At the opening of business on the Australian Securities Exchange on Monday, Donaco’s share price stood at AUD0.425 (US$0.335) per unit.

The actual number of shares to be purchased by Donaco under the exercise will depend on “market conditions and volumes”, the filing noted.

“Our primary focus in assessing all potential uses of the company’s cash holdings is to ensure a strong return for shareholders. Buying the company’s shares at recent prices represents an excellent opportunity to generate strong returns,” managing director and chief executive of Donaco, Joey Lim Keong Yew, was cited as stating in the Monday release.

“At current share prices, the buy-back will be earnings-per-share accretive, and will have no impact on current operating businesses. It is also consistent with our strategy of maintaining an efficient capital structure,” Mr Lim stated.

Under the terms of a debt agreement with Taiwan’s Mega International Commercial Bank Co Ltd – refinanced in August this year – Donaco’s dividends and buy-backs combined cannot exceed 30 percent of its net profit after tax for the 12 months to June 30, the firm noted in its Monday filing.

For the 12 months to June 30, Donaco reported net profit after tax down nearly 60 percent year-on-year, at AUD31.0 million in the 12 months to June 30, 2017, according to an August 29 statement. At the time, the firm had announced that it was issuing a dividend for the period amounting to AUD0.05 per share and payable on October 20. That dividend is for an aggregate of just under AUD4.16 million, said Donaco’s Monday release.

“Accordingly, the maximum amount that can be spent on the buy-back exercise at present is AUD5,141,032,” stated the firm.

In late September the company had said that “family” of Donaco’s Mr Lim had sold a total of 37.5 million shares in the firm, for an aggregate consideration of AUD15 million.

Donaco currently makes most of its gaming revenue by making use of Southeast Asia’s patchwork approach to casino legalisation. Its Vietnam venue Aristo International Hotel in Lao Cai, on Vietnam’s northern border with China, currently draws many players from the latter nation, where casino gambling is illegal except in Macau, a Chinese special administrative region.

Donaco’s main Cambodian venue, Star Vegas Resort and Club, at Poipet, draws many customers from neighbouring Thailand, where casinos are also banned. In both Vietnam and Cambodia, locals are currently barred from casino gambling.


  • tweet
Related articles
  • Sands China dividend only likely in 2024: Bernstein
    Sands China dividend only likely in...

    Feb 16, 2022  

  • Singapore casino market to recover from 2022: LVS CEO
    Singapore casino market to recover from...

    Oct 21, 2021  

More news
  • Nagasaki says Credit Suisse woes not to impact IR plan
    Nagasaki says Credit Suisse woes not to...

    Mar 20, 2023  

  • Macau GGR for March 1 to 19 at US$845mln: JP Morgan
    Macau GGR for March 1 to 19 at...

    Mar 20, 2023  


Latest News

Nagasaki says Credit Suisse woes not to impact IR plan

Nagasaki says Credit Suisse woes not to impact IR plan

Mar 20, 2023  

Credit Suisse Group AG, described last year by Nagasaki governor Kengo Oishi as one of several potential “financial arrangers” for a proposed casino resort project within that Japanese prefecture...
Read More
Macau GGR for March 1 to 19 at US$845mln: JP Morgan

Macau GGR for March 1 to 19 at US$845mln: JP Morgan

Mar 20, 2023  

Let’s Win hosts grand opening for club at Hoiana in Vietnam

Let’s Win hosts grand opening for club at Hoiana in...

Mar 20, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


1.59 million

Total number of visitor arrivals to Macau in February



Most Popular

  • Universal Ent seeks to end SPAC deal for Okada Manila listingUniversal Ent seeks to end SPAC deal for Okada Manila… March 20, 2023
  • Let’s Win hosts grand opening for club at Hoiana in VietnamLet’s Win hosts grand opening for club at Hoiana in… March 20, 2023
  • Macau GGR for March 1 to 19 at US$845mln: JP MorganMacau GGR for March 1 to 19 at US$845mln: JP Morgan March 20, 2023
  • Macau visitor tally up 14pct m-o-m in FebruaryMacau visitor tally up 14pct m-o-m in February March 17, 2023
  • LET Group flags 2022 loss of US$52mln, Hoiana repays loanLET Group flags 2022 loss of US$52mln, Hoiana repays loan March 20, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us