Donaco International reported net revenue of A$8.47m, down from A$10.03m in the prior quarter, and impacted by increased tensions along the border between Thailand and Cambodia during the quarter.
EBITDA for the June quarter reduced to A$3.68m, down from the March quarter’s A$4.10m. Donaco’s Star Vegas operation (Star Vegas), situated in Cambodia near the Thai border, delivered a net revenue of A$4.31m, down 31 per cent on the prior quarter. Average daily visitation fell to 758 players from 928 players for the previous quarter. The tensions along the border between Thailand and Cambodia included a border closure to nearly all travellers, which has directly affected visitation at Star Vegas. Star Vegas’ operations remain at reduced activity following border tensions, with its primary customers, who were travelling from Thailand before the border restrictions, unable to cross the border. Since the border closure, the Star Vegas customer base has consisted of foreigners in Poipet, primarily expatriates and
businesspeople from Indonesia, China, and Korea.
Aristo International Hotel, located in Vietnam near the Chinese border, delivered an improved net revenue of A$4.16m, an 11 per cent increase on the prior quarter. Average daily visitation rose slightly to 343 players. Aristo also recorded an increased property-level EBITDA of A$2.52m.
Donaco ended the quarter with a cash position of A$39.63m, broadly stable versus the prior corresponding period.
Donaco’s Non-Executive Chairman, Mr Porntat Amatavivadhana, commented: “Donaco has seen a challenging operating environment in the June quarter, following changes in the legislative
and political environment. Aristo has continued to perform in line with previous quarters, with stable revenue growth and improved EBITDA. Visitation numbers also slightly improved over the quarter, following an increase in tourism to the region.
“On the other hand, Star Vegas has had a challenging quarter, following a border dispute between Thailand and Cambodia, which has significantly impacted its operations. The border dispute has resulted in reduced activities at Star Vegas, with its primary customer base unable to cross the border from Thailand. As the border dispute is ongoing and subject to rapid change, the short-term outlook for tourism in the region remains uncertain. However, we will continue to closely monitor the situation.”
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Donaco International reported net revenue of A$8.47m, down from A$10.03m in the prior quarter, and impacted by increased tensions along the border between Thailand and Cambodia during the quarter. EBITDA for the June quarter reduced to A$3.68m, down from the March quarter’s A$4.10m. Donaco’s Star Vegas operation (Star Vegas), situated in Cambodia near the Thai…
The post Border tensions continue to impact Donaco’s Star Vegas casino in Cambodia appeared first on G3 Newswire.