• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 29 January 2023
    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 posts first profitable quarter in over a year on Star Vegas recovery

    Newsdesk by Newsdesk
    Sun 30 Oct 2022 at 13:18
    Donaco looks inward as Lee Bug Huy named new CEO

    Star Vegas in Poipet, Cambodia

    9
    SHARES
    229
    VIEWS
    Print Friendly, PDF & Email

    ASX-listed Donaco International Limited has produced its first EBITDA-positive quarter in more than a year in the three months to 30 September 2022, buoyed by the reopening of Star Vegas Resort & Club in Poipet, Cambodia.

    Shuttered on 27 April 2021 and only reopening on 18 June 2022, Donaco noted in a Friday filing that while operations had recommenced on a limited scale, they progressively ramped up throughout the September quarter.

    As a result, Donaco recorded revenue of AU$4.53 million (US$2.9 million) in 3Q22, up from just AU$760,000 (US$488,000) a year earlier, while EBITDA of AU$1.5 million (US$963,000) reversed an AU$1.04 million EBITDA loss in the same period last year.

    Star Vegas contributed the majority of that revenue, to the tune of AU$4.1 million (US$2.6 million) – up from AU$500,000 (US$321,000) in 3Q21 – while property EBITDA of AU$2.22 million (US$1.42 million) reversed a loss of AU$620,000 (US$398 million).

    Conversely, Aristo International Hotel in Vietnam – located near the border with mainland China – continues to operator on a limited basis with 3Q22 revenue down 39.4% year-on-year to AU$430,000 (US$276,000) and an EBITDA loss of AU$90,000 (US$58,000).

    In announcing its results, Donaco said it is currently focused on the continual ramp up of Star Vegas where it is encouraged by a “positive external environment” given initiatives by Cambodia and Thailand to increase travel flows between the two countries.

    “For example, late in the September quarter, the Cambodian and Thai Governments agreed to speed up the reopening of the last three border crossings that remain closed between the two countries,” it said.

    Donaco’s Non-Executive Chairman, Porntat Amatavivadhana, added, “I am delighted to see Donaco achieve positive EBITDA for the first time in a quarter since early 2021 and importantly there is substantial further growth potential on the horizon.

    “Star Vegas has delivered a strong result so soon after reopening, which is a testament to the operational strategy Donaco has implemented and one which we anticipate will be sustainable.

    “We are confident of being able to replicate this strategy at Aristo in the future, which currently remains open on a limited basis.

    “As travel patterns in the region continue to improve, in tandem with the incoming Sapa Airport and Aristo’s status as the only 5-star hotel in the Lao Cai province, the long-term future for this operation is very bright.”

    RelatedPosts

    Number of Macau gaming workers rises through December 2022

    Number of Macau gaming workers rises through December 2022

    Sun 29 Jan 2023 at 12:35
    Dallmeier shortlisted in two categories at European Casino Awards 2023

    Dallmeier shortlisted in two categories at European Casino Awards 2023

    Fri 27 Jan 2023 at 06:32
    Gaming credit law changes to reflect measures banning junkets from accepting player deposits

    Sands China “more than breakeven” through Chinese New Year as gaming volumes soar

    Thu 26 Jan 2023 at 06:43
    Inside Asian Gaming named Lead Media and Production Partner for G2E Asia 2022 Special Edition in Singapore

    Las Vegas Sands reports narrowed US$269 million loss as Marina Bay Sands sets new mass gaming revenue record

    Thu 26 Jan 2023 at 05:37
    Load More
    Tags: Aristo international hotelAustraliacasinoDonaco InternationalEbitdaGamingprofitrevenueStar Vegas
    Share4Share1
    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: Want to attract foreigners? Make Macau the poker capital of Asia

    Editorial: Want to attract foreigners? Make Macau the poker capital of Asia

    by Ben Blaschke
    Wed 4 Jan 2023 at 11:39

    In what has become a point of widespread debate, the Macau SAR Government has called on its gaming concessionaires to...

    Singapore swing

    Singapore swing

    by Ben Blaschke
    Wed 4 Jan 2023 at 11:32

    Having previously established itself as the gold standard in the operation and regulation of integrated resorts in Asia following the...

    Flying high

    Flying high

    by Ben Blaschke
    Wed 4 Jan 2023 at 11:25

    Having endured a hectic three years at Marina Bay Sands which saw him promoted to Chief Operating Officer while dealing...

    Coming together

    Coming together

    by Newsdesk
    Wed 4 Jan 2023 at 11:21

    On 1 August 2022, Singapore officially inaugurated a new gambling regulator, the Gambling Regulatory Authority (GRA), replacing the former Casino...

    Softswiss
    Evolution Asia
    Aristocrat
    Solaire
    Solaire
    Beter
    Beter
    IGT

    Related Posts

    Macau welcomed 451,047 visitor arrivals during Chinese New Year “Golden Week”

    Macau welcomed 451,047 visitor arrivals during Chinese New Year “Golden Week”

    by Pierce Chan
    Sun 29 Jan 2023 at 14:42

    According to information from the Public Security Police Force and Macao Government Tourism Office (MGTO), Macau welcomed a total of 451,047 visitors during this year’s Chinese New Year Golden Week from 21 to 27 January, with a daily average of...

    Number of Macau gaming workers rises through December 2022

    Number of Macau gaming workers rises through December 2022

    by Pierce Chan
    Sun 29 Jan 2023 at 12:35

    The number of people employed in Gaming & Junket Activities in Macau rose to 67,600 the three months to 31 December 2022, up 1,200 from the 66,400 employees in the September to November period but down 8,900 compared to the...

    G2E Asia to forge ahead with July dates for 2020 trade show

    G2E Asia to return in 2023 with two shows in Singapore and Macau

    by Ben Blaschke
    Fri 27 Jan 2023 at 15:25

    Industry trade show G2E Asia will return not once but twice in 2023, with “G2E Asia Special Edition: Singapore” to take place at Marina Bay Sands from 30 May to 1 June followed by the “Asian IR Expo + G2E...

    London calling

    Sands China expecting positive return on multi-billion dollar Macau non-gaming commitment

    by Ben Blaschke
    Fri 27 Jan 2023 at 07:23

    Sands China executives said Thursday they are confident that the company’s capital commitment of up to US$4.5 billion into Macau over the next 10 years, most of which will be for non-gaming attractions, can generate positive returns. The commitment, which guarantees...


    IAG

    © 2005-2023
    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

    © 2005-2023
    Inside Asian Gaming.
    All rights reserved.