• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 1 July 2022
  • 中文中文
  • 日本語日本語
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Donaco reveals cash burn of US$380,000 per month in 3Q21

Newsdesk by Newsdesk
Fri 29 Oct 2021 at 06:45

Donaco’s Aristo International Hotel in Vietnam

14
SHARES
345
VIEWS
Print Friendly, PDF & Email

Southeast Asian casino operator Donaco International Ltd says it burned through US$380,408 per month due the impact of COVID-19 in the three months to 30 September 2021, although the cash burn was “well within the targeted range.”

According to a trading update filed with the ASX on Friday morning, Donaco – which operates Star Vegas in Poipet, Cambodia and Aristo International in northern Vietnam – had budgeted for cash burn of between US$800,000 and US$900,000 per month but was able to improve on that target due to targeted cost control measures.

The reduced cash burn came despite Star Vegas remaining closed throughout the quarter, while Aristo operated at limited capacity. As a result, revenue of AU$760,000 (US$572,000) was almost entirely generated from Donaco’s Vietnam operated with a group-wide EBITDA loss of AU$1 million (US$753,000).

“This was another challenging quarter for Donaco as the impacts of COVID-19 continued to linger on our casinos and the broader communities in which we operate,” said non-executive Chairman Porntat Amatavivadhana.

“During the quarter we focussed on positioning the company optimally to target significant growth once the external conditions improve by proactively reducing our Mega Bank debt to preserve a robust balance sheet and maintaining prudent cost control.

“There are positive indications that COVID restrictions relevant to the region star Vegas operate sin will ameliorate in the near-term with the governments of Thailand and Cambodia both outlining reopening plans following strong vaccination rates in the two countries.

“Vaccination rates in Vietnam gave also been starting to ramp up substantially since September, which is a highly positive sign for our Aristo casino.”

RelatedPosts

Century Entertainment’s mass table gaming business on hold as Cambodian outbreak delays new casino opening

Century Entertainment looking to launch Cambodian table gaming business in September

Fri 1 Jul 2022 at 06:10
Government flips on 48-hour NAT requirement for casino, construction workers after chaotic scenes across Macau

Government flips on 48-hour NAT requirement for casino, construction workers after chaotic scenes across Macau

Thu 30 Jun 2022 at 20:56

Vietnam visitor arrivals reach just 7% of 2019 levels between January and June but numbers on the rise

Thu 30 Jun 2022 at 06:07
Wynn Macau named Official Venue Partner for Asia’s 50 Best Restaurants 2022

Wynn Macau issues US$13.4 million in new shares to be granted to employees

Wed 29 Jun 2022 at 05:04
Load More
Tags: Cambodiacash burncasinoDonaco InternationalrevenueVietnam
Share6Share1
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial: Are Macau’s casinos running out of money?

Editorial: Are Macau’s casinos running out of money?

by Ben Blaschke
Wed 29 Jun 2022 at 21:47

Dominating discussions around Macau’s casino industry over much of the past 12 months has been the looming expiration of gaming...

Hengqin: The future of Macau

Hengqin: The future of Macau

by Wendi Song and Ben Blaschke
Wed 29 Jun 2022 at 20:54

The special economic zone of Hengqin is not only emerging as a critical infrastructure project for mainland China, it will...

Roadmap to 1 January

Roadmap to 1 January

by Andrew W Scott
Wed 29 Jun 2022 at 19:21

With Macau’s new Gaming Law passed by the Legislative Assembly on 21 June, IAG takes a look at the likely...

Branding and engagement in the metaverse

Branding and engagement in the metaverse

by Victoria White
Wed 29 Jun 2022 at 19:07

In Part 1 of this two-part series, we looked at the rising world of metaverses and NFTs. In Part 2...

Related Posts

Macau Jockey Club’s accumulated losses reach US$235 million in 2021

Macau Jockey Club’s accumulated losses reach US$235 million in 2021

by Newsdesk
Fri 1 Jul 2022 at 06:34

The Macau Jockey Club (MJC) has reported accumulated losses of MOP$1.9 billion (US$235 million) through 2021, according to information published in the Official Gazette. The figure is calculated as the total amount of losses since the company’s incorporation, with annual...

Century Entertainment’s mass table gaming business on hold as Cambodian outbreak delays new casino opening

Century Entertainment looking to launch Cambodian table gaming business in September

by Newsdesk
Fri 1 Jul 2022 at 06:10

Hong Kong-listed Century Entertainment International Holdings Ltd says it hopes to launch operations of its gaming table business at a new casino in Dara Sakor, Cambodia, by late September following a series of setbacks. Announcing its financial results for the...

The Star Gold Coast

Queensland government appoints former judge to lead Star inquiry, releases terms of reference

by Ben Blaschke
Fri 1 Jul 2022 at 05:29

The Queensland state government has appointed former judge Robert Gotterson AO to lead an inquiry into Star Entertainment’s Group’s Brisbane and Gold Coast casinos, starting this month. Gotterson will be tasked with ensuring Queensland casinos are “are operated lawfully, ethically...

IAG Vice-Chairman and CEO Andrew W Scott to appear as special guest on Deep Knowledge Investing webinar discussing Macau’s new gaming law

IAG Vice-Chairman and CEO Andrew W Scott to appear as special guest on Deep Knowledge Investing webinar discussing Macau’s new gaming law

by Newsdesk
Fri 1 Jul 2022 at 04:59

What: Deep Knowledge Investing webinar with Inside Asian Gaming’s Vice Chairman and CEO Andrew W Scott, "The future of the Macau casino gaming industry" When: Wednesday 6 July at 7pm New York time (Thursday 7 July at 7am Macau time)...


HKUST

Simple Play

IAG

© 2005-2022
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • Contributors
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Consulting
  • Magazines
  • Advertise
  • Contact
  • About

© 2005-2022
Inside Asian Gaming.
All rights reserved.