Oct 29, 2021 Newsdesk Latest News, Rest of Asia, Top of the deck  
Cambodia casino complex Star Vegas Resort and Club reduced its operating expenses by a third in the three months to September 30, compared to the prior-year quarter, its promoter Donaco International Ltd said in a Friday filing to the Australian Securities Exchange.
Such expenses were AUD670,000 (US$504,624) compared to AUD1.0 million in the same period a year ago.
Star Vegas casino (pictured in a file photo) in Poipet, on Cambodia’s border with Thailand, has been temporarily closed since April 27.
The group also runs the Aristo International Hotel including a casino, at Lao Cai on Vietnam’s border with China, and which has been operating “on a limited basis since May 2020,” according to Donaco.
The group said it had been experiencing a “cash burn” of approximately US$380,408 per month, which it said was “well within the targeted range”.
Net revenue at Star Vegas in the quarter to September 30 was negligible – at AUD50,000, versus AUD130,000 in the quarter a year earlier. There was zero rolling chip turnover in the latest period, versus AUD1.26 million a year earlier.
At Aristo International, quarterly net revenue was up sequentially and year-on-year. Such revenue was AUD710,000, versus AUD360,000 in the quarter to June 30, and AUD200,000 in the quarter to September 30, 2020.
Property-level earnings before interest, taxation, depreciation and amortisation (EBITDA) in the latest period was positive by AUD300,000, compared to negative by AUD70,000 in the quarter to June 30, and negative by AUD550,000 in the prior-year period.
There were 12 visitors per day to the Vietnam property, on average, compared to 15 per day in the three months to June 30, and 12 per day in the prior year quarter.
Group-wide net revenue was AUD760,000, versus AUD1.46 million in the quarter to end-June, and AUD330,000 in the quarter to September 30 last year, “stemming from operational inactivity due to Covid-19 restrictions,” said the firm.
The ongoing restrictions had “heavily reduced” visitor numbers, affecting revenue and EBITDA, said Donaco. But it added: “The governments of Thailand and Cambodia have both outlined significant reopening plans during the December 2021 quarter.”
May 25, 2023
May 18, 2023
Jun 09, 2023
Jun 09, 2023
Jun 09, 2023
None of Macau’s six gaming concessionaires have so far applied for a form of “exemption” from the full 40-percent tax rate on casino gross gaming revenue (GGR), as potentially applicable...Jun 09, 2023
Commercial opportunities for utilisation of...Jun 08, 2023
Gaming content and equipment maker Konami says it is...Jun 07, 2023
Casino gaming content and hardware provider Light &...Jun 06, 2023
Electronic table games (ETGs) supplier Interblock dd is...Jun 05, 2023
Random number generator (RNG) testing tools are among the...Jun 01, 2023
Alfastreet, a manufacturer of electronic gaming machines,...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
”We believe the intrinsic value of IGT’s market-leading businesses and diversified cash flow profile is not currently reflected in our stock price and the timing is right to assess opportunities that may enhance value for IGT’s shareholders”
Marco Sala
Executive chair of casino equipment supplier IGT