March 8, 2021
Asian casino operator Donaco International Limited has announced that it has no intention of selling its gambling-friendly Aristo International Hotel venue despite a recent coronavirus-related downturn in business.
The Sydney-listed firm has been responsible for the 428-room property in northern Vietnam since 2014 to offer local gambling aficionados the chance to enjoy a selection of up to 300 slots as well as some 40 gaming tables. However, the venue located less than three miles from Vietnam’s border with China was completely closed for a 22-day period in April owing to the coronavirus pandemic and has since been only partially re-opened under a strict set of new social distancing and public health protocols.
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Donaco International Ltd (ASX:DNA) 1H FY21 Results Investor Briefing
FRA:UGS) hosted an investor briefing to discuss the Company s Half Year Results on Friday 26 February 2021. Below is the accompanying summary provided by the Donaco management team during the briefing followed by investor questions answered during the webinar.
Presentation - Gordon Lo, Chief Financial Officer
The Half Year was a period of changes and challenges for Donaco, as we had to navigate external challenges with COVID-19 and internally navigate through shareholding and management changes.
The period saw Donaco deliver on its strategy with tight control over our operating costs, which resulted in opening DNA Star Vegas and Aristo International Hotel during the last three months of the Financial Year from September to December. We shifted our strategy to adapt through the pandemic, which led to a return to a positive EBITDA of A$2.7 million for the final three months of the year, for a total Hal
Donaco International Ltd (ASX:DNA) 1H FY21 Results Summary and Presentation
FRA:UGS) has announced its results for the six month period ended 31 December 2020 (1H FY21).
Donaco posted a positive group EBITDA of A$0.2 million for 1H FY21 (1H FY20: A$13.8 million), with the final three months of 1H FY21 resulting in A$2.7 million group EBITDA.
Positive EBITDA was recorded despite the revenue decline to $6.3 million (1H FY20: A$40.9 million), as COVID-19 related border closures and restrictions on casino operations impacted visitation numbers, which cascaded through to revenue.
As a result of the non-competition settlement in relation to DNA Star Vegas, Donaco reported a statutory net profit after tax of A$42.5 million in 1H FY21, compared to a loss of A$1.5 million in the prior corresponding period.
Donaco International Limited (ASX:DNA) (FRA:UGS) will host an investor briefing to discuss the Company s Half Year Results at 3:00pm (AEDT)/11:00am (ICT) on Friday, 26 February 2021.