Donaco says it repaid US$100mln loan to Mega Bank

Jan 06, 2022 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Donaco International Ltd, an operator of several border casinos in Southeast Asia, says it has completed the settlement of a US$100-million loan facility with its main lender Mega International Commercial Bank Co Ltd. “The loan facility was settled on 30 December 2021 as per schedule,” said the casino firm in a Wednesday filing to the Australian Securities Exchange.

“Donaco is pleased to confirm that there is no more outstanding loan balance owed to its lender Mega Bank,” it stated.

In July, Donaco said it had gained approval from Mega Bank to reschedule repayment of the outstanding money it owned the institution, with the repayment being done via six monthly instalments between June and December.

“The final instalment of US$1.8 million was paid in December 2021,” stated the company.

Donaco said it “continues to preserve a robust balance sheet,” and “maintain prudent cost control” as it waits for the Covid-19 pandemic “to ameliorate in Vietnam and Cambodia”.

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 said it had reduced the operating expenses of that property by a third in the three months to September 30, compared to the prior-year quarter.

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

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