• 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 says Lee Bug Huy new CEO, appoints board members

Sep 03, 2020 Newsdesk Latest News, Rest of Asia, Top of the deck  


Donaco says Lee Bug Huy new CEO, appoints board members

Donaco International Ltd, an operator of border casinos in Southeast Asia, says it has appointed Lee Bug Huy as the group’s new chief executive, effective on Thursday (September 3). The executive will remain on the company’s board as an executive director, said Donaco in a Wednesday filing.

Australia-listed Donaco runs the Aristo International Hotel, at Lao Cai, on Vietnam’s border with China, and Star Vegas Resort and Club, at Poipet, on Cambodia’s border with Thailand.

Mr Huy – who was appointed in August to Donaco’s board – was one of the two underwriters of an entitlement offer conducted in July that helped the casino group raise AUD14.4 million – about US$10.3 million at current exchange rates – before costs.

After completion of the latest share exercise, Mr Huy and Lee Bug Tong –the other underwriter – increased their relevant interest in Donaco to 42.12 percent. The two investors had been in previous litigation with the Donaco group.

According to the filing, Mr Huy “has extensive experience in gaming and casino management.” He was identified as a casino vice president for Star Vegas Casino and Resorts Co Ltd, “responsible for developing the model for the slot machine business”.

In Wednesday’s filing, Donaco said also it had appointed to its board Andrew Phillips and Issaraya Intrapaiboon as two Australian-based, non-executive directors. Paul Porntat Amatavivadhana – who joined Donaco’s board in August – has been appointed as the company’s non-executive chairman, it added. All the appointments are effective from September 2.

Mr Amatavivadhana is described as a founding principal and chief executive of Infinite Capital, a boutique corporate advisory firm based in Bangkok, Thailand. The document said he had “considerable experience in mergers and acquisitions, corporate restructuring and capital raising”.

As part of the board reshuffle process, Donaco’s chairman Mel Ashton and non-executive director Simon Vertullo have resigned from the company’s board.

The filing quoted the new CEO as saying that the company would be working to make sure its two casinos were “fully operational post Covid-19 and borders reopening.”

He added: “We will continue to execute our pragmatic cost control strategy while keeping the market updated with future developments.”

Donaco said earlier this week that it had narrowed its fiscal-year loss as of June 30, to just above AUD58.9 million, from AUD198.0 million a year earlier, even though the second half of the reporting period was affected by Covid-19. The firm warned in its results that the outlook for the next reporting period was clouded by ongoing travel restrictions in the region relating to the pandemic.


  • tweet
Related articles
  • Wynn Resorts to break ground for UAE in weeks: CFO
    Wynn Resorts to break ground for UAE in...

    Mar 16, 2023  

  • Donaco 1H Cambodia revenue up, post-tax loss US$25mln
    Donaco 1H Cambodia revenue up, post-tax...

    Mar 01, 2023  

More news
  • Foreigners can use HK-Macau free ticket says tourism boss
    Foreigners can use HK-Macau free ticket...

    Mar 27, 2023  

  • Raffles hotel checks complete at Galaxy Phase 3: MGTO
    Raffles hotel checks complete at Galaxy...

    Mar 27, 2023  


Latest News

Foreigners can use HK-Macau free ticket says tourism boss

Foreigners can use HK-Macau free ticket says tourism boss

Mar 27, 2023  

Tourists from overseas travelling to Macau via Hong Kong will also be eligible for a free single-leg journey by bus or ferry from participating carriers, said on Monday Macau’s tourism boss. Maria...
Read More
Raffles hotel checks complete at Galaxy Phase 3: MGTO

Raffles hotel checks complete at Galaxy Phase 3: MGTO

Mar 27, 2023  

Melco’s Studio City has foreigner-only bet zone: checks

Melco’s Studio City has foreigner-only bet zone: checks

Mar 27, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”Human capital constraints and skill gaps pose a key challenge for Macau to substantially reduce its high dependence on the gaming industry”

George Xu, Andrew Fennell and Jan Friederich

Analysts at Fitch Ratings



Most Popular

  • Macau diversification into non-gaming to remain slow: FitchMacau diversification into non-gaming to remain slow: Fitch March 24, 2023
  • Sands China woos Singaporeans as Air Macau opens routeSands China woos Singaporeans as Air Macau opens route March 23, 2023
  • Melco’s Studio City has foreigner-only bet zone: checksMelco’s Studio City has foreigner-only bet zone: checks March 27, 2023
  • Raffles hotel checks complete at Galaxy Phase 3: MGTORaffles hotel checks complete at Galaxy Phase 3: MGTO March 27, 2023
  • Main-building work at Naga 3 begins mid-2023: NagaCorpMain-building work at Naga 3 begins mid-2023: NagaCorp March 24, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us