Donaco slims quarterly EBITDA loss as Cambodia op reopens

Aug 01, 2022 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Donaco International Ltd, the Australia-listed operator of Star Vegas Resort and Casino (pictured) – known as DNA Star Vegas – a border facility in Cambodia, said its quarterly loss on earnings before interest, taxation, depreciation and amortisation (EBITDA) narrowed to AUD760,000 (US$531,237) in the three months to June 30, from negative AUD1.37 million in the prior quarter.

In a June filing, the firm had said it was being permitted to restart casino operations from June 18 at DNA Star Vegas. The casino resort, at Poipet on Cambodia’s border with Thailand, had been temporarily closed from 27 April, 2021, as a Covid-19 countermeasure.

The group also runs the Aristo International Hotel and associated casino, in Lao Cai, Vietnam, near that country’s border with China.

Group net revenue in the latest reporting period was AUD1.07 million, versus AUD230,000 in the three months to March 31.

“The highlight of the quarter was the reopening of Star Vegas with the goal to return to full-scale operations as conditions improve,” said Porntat Amatavivadhana, non-executive chairman, cited in a Friday filing to the Australian Securities Exchange.

He added: “It will take some time before activities return to how they were before.” But the non-executive chairman noted improvement in certain “external factors” were “a huge step forward”.

These included that the Thai government had “removed restrictions for international travellers, resulting in a steady increase in visitor numbers” to Cambodia.

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