GGRAsia – Casino operator Donaco completes share buy-back

Casino operator Donaco completes share buy-back

Aug 06, 2015 Newsdesk Industry Talk, Latest News, Rest of Asia, Top of the deck

Southeast Asia casino operator Donaco International Ltd said in a filing on Wednesday that it had completed a buy-back exercise, acquiring from the market 1.23 million of its shares for a total consideration of approximately AUD825,113 (US$606,635).

The company revealed to the Australian Securities Exchange that the highest price paid was AUD0.90 per unit on August 28 last year, and the lowest price paid was AUD0.585 on November 27 last year.

The 12-month buy-back exercise was launched in August 2014. The firm expected to acquire up to 37.2 million shares on open market,

The firm’s stock was valued at AUD0.75 per unit in early trading in Sydney on Thursday.

Donaco said in a filing on Monday that it had launched a new corporate branding and logo featuring a fountain.

The company on July 1 confirmed a deal to acquire Star Vegas Resort and Club (pictured) – located in Poipet on Cambodia’s frontier with Thailand – for a consideration of US$360 million.

Donaco also operates a casino-hotel called Aristo International Hotel in Lao Cai province in Vietnam, on that country’s northern border with China.

The company was founded in 2002 by the firm’s current managing director and chief executive Joey Lim Keong Yew, and one of his grandfathers: Lim Goh Tong, founder of Malaysian conglomerate Genting Group.

Donaco’s results for financial year 2015, which ended on June 30, will be announced this month.