• 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

Donaco rejigs payback on US$7mln still owed Mega Bank

Jul 01, 2021 Newsdesk Latest News, Rest of Asia, Top of the deck  


Donaco rejigs payback on US$7mln still owed Mega Bank

Donaco International Ltd, an operator of several border casinos in Southeast Asia, says it has gained approval from key lender Mega International Commercial Bank Co Ltd, to reschedule repayment of the outstanding money Donaco owes the institution. The repayment is being done via six monthly instalments of US$1 million each, between June and November, plus a final payment of US$1.8 million in December.

With the June payment already made, then as of June 30, Donaco owed the institution – also known as Mega Bank – the sum of US$6.8 million, out of the initial circa US$100 million it had borrowed in Australian dollars, and had been repaying since 2015, the casino firm said in a Thursday filing to the Australian Securities Exchange.

Star Vegas Resort and Club (pictured in a file photo), Donaco’s flagship casino resort in Poipet, on Cambodia’s border with Thailand, has been closed since April, due to the Covid-19 pandemic.

Donaco’s non-executive chairman, Porntat Amatavivadhana, was cited as saying in Thursday’s filing, that while the public health situation was “outside of our control,” the firm had “acted according to what was mandated by the Cambodian government with the temporary closure of all casinos in the region, including Star Vegas.”

The chairman added: “The continued safety of our staff and visitors remains paramount and we will advise the market once there is any further update.”

Thursday’s filing also noted that the Donaco board had approved a shareholder loan of up to US$8.2 million from Lee Bug Huy, also known as Techatut Sukcharoenkraisri, the firm’s chief executive and an executive director.

That loan is repayable over the next three years, “on terms that are materially the same as those of the Mega Bank facility,” stated Donaco.

It added the firm intended to repay the shareholder loan from operational cash flow, within the loan term.

Donaco also said it had received a waiver in relation to the default interest and financial covenants of the Mega Bank facility.

The gaming firm also runs the Aristo International Hotel, a casino hotel in Lao Cai, on Vietnam’s border with China.


  • tweet
Related articles
  • Possible US$637mln loan via STDM to shore SJM: mgmt
    Possible US$637mln loan via STDM to...

    May 04, 2022  

  • Star Vegas closure at 2 year mark, CEO offers loan facility
    Star Vegas closure at 2 year mark, CEO...

    May 03, 2022  

More news
  • Wynn Macau Ltd asks managers to take 10pct wage in stock
    Wynn Macau Ltd asks managers to take...

    May 24, 2022  

  • Macau op debt to hit US$25bln unless travel eased 2H: MS
    Macau op debt to hit US$25bln unless...

    May 24, 2022  


Latest News

Wynn Macau Ltd asks managers to take 10pct wage in stock

Wynn Macau Ltd asks managers to take 10pct wage in stock

May 24, 2022  

Macau gaming operator Wynn Macau Ltd is asking some management-level staff to volunteer to take 10 percent of their monthly base pay in the form of company stock, according to a notice recently sent...
Read More
Macau op debt to hit US$25bln unless travel eased 2H: MS

Macau op debt to hit US$25bln unless travel eased 2H: MS

May 24, 2022  

Outbound group tours still paused: China immigration

Outbound group tours still paused: China immigration

May 24, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”Resorts World Sentosa is now looking at broadening its customer base to those who engage in casual play for entertainment"

Tan Hee Teck

Genting Singapore’s president and chief operating officer



Most Popular

  • Macau GGR tax cut idea tied to China outlook: brokerageMacau GGR tax cut idea tied to China outlook: brokerage May 23, 2022
  • Review saw no irregularity in Levo Chan link: Macau LegendReview saw no irregularity in Levo Chan link: Macau Legend May 23, 2022
  • Manila Westside launch aim still 2024: SuntrustManila Westside launch aim still 2024: Suntrust May 23, 2022
  • RWS seeking to expand gaming customer base: execRWS seeking to expand gaming customer base: exec May 24, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us