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GGRAsia – Mega Bank okays Donaco deal with Star Vegas vendors

Donaco International Ltd, an operator of several border casinos in Southeast Asia, says it has gained approval from key lender Mega International Commercial Bank Co Ltd, known as Mega Bank, on the casino firm’s “settlement of all legal cases” with third parties, regarding Star Vegas Resort and Club (pictured), Donaco’s Cambodian casino venue. An outstanding debt of USD$7.8 million payable to the bank was “a notable reduction from the initially-borrowed amount of US$100 million, and the company is on track to repay all the remaining debt in financial year 2021,” said Donaco in a Tuesday filing to the Australian Securities Exchange.

Republic ofBante me cheayMega international commercial bank co ltdAristo internationalMega bankDonaco international ltdAustralian securities exchangeStar vegasLatest newsInternational ltdSoutheast asiaStar vegas resortAustralian securitiesLao caiகுடியரசு ஆஃப்மெகா சர்வதேச வணிகரீதியானது வங்கி இணை லிமிடெட்

Donaco International Ltd (ASX:DNA) Lender Approval Received for Star Vegas Settlement

Donaco International Ltd (ASX:DNA) Lender Approval Received for Star Vegas Settlement Lender Approval Received for Star Vegas SettlementSydney, Dec 22, 2020 AEST (ABN Newswire) - Donaco International Limited ( FRA:UGS) is pleased to announce securing the approval from lender Mega Bank on the settlement of all legal cases for the Star Vegas Resort and Club ( Star Vegas ). The waiver is in relation to the successful settlement of all legal cases with the Thai Vendor as part of the provisions of a Facility Agreement with the lender. Donaco is extremely pleased of securing this approval as the Company continues to work with Mega Bank and pay down the debt facility under the agreement.

Republic ofNew south walesBante me cheayDonaco internationalMega bank facilityAristo international hotelStar vegas resort clubDonaco international ltdDonaco international limitedClub star vegasMega bankLender approval receivedStar vegasApproval receivedInternational limitedStar vegas resort

Donaco International Ltd (ASX:DNA) AGM 2020 - Chairman s Address and Presentation

Donaco International Ltd (ASX:DNA) AGM 2020 - Chairman s Address and Presentation AGM 2020 - Chairman s Address and PresentationSydney, Dec 21, 2020 AEST (ABN Newswire) - Ladies and Gentlemen, before commencing the formal business of today s meeting I would like to give you an overview of Donaco International Ltd s ( FRA:UGS) performance and developments over the past 12 months, as well as briefly outlining our strategy going forward. After we conclude the formal business, Donaco s Chief Executive Officer Lee Bug Huy and Chief Financial Officer Gordon Lo will provide a more comprehensive presentation on our operations and the strategic initiatives underway. 2020 has been a year of changes and challenges for Donaco, both internally and externally. Internally, we ve had to navigate shareholding and management changes, as well as arbitration proceedings.

Republic ofNew south walesBante me cheayAndrew phillipsCleo chanSimon vertulloKurkye wongIssaraya intrapaiboonMel ashtonDonaco international limitedAristo international hotelMega bankStar vegas resort clubDonaco international ltdChief executive officer lee bug huyChief executive officer

Donaco International Ltd (ASX:DNA) Returns to Positive EBITDA as COVID-19 Impacts Subside

Donaco International Ltd (ASX:DNA) Returns to Positive EBITDA as COVID-19 Impacts Subside Returns to Positive EBITDA as COVID-19 Impacts SubsideSydney, Dec 18, 2020 AEST (ABN Newswire) - Donaco International Limited ( Highlights - Donaco delivers two months of positive EBITDA for October and November 2020, with the trend continuing into December - Driven by business initiatives implemented by the new Board and Executive team including a shift in customer targeting, alongside continued cost control strategy - Donaco remains confident in securing Mega Bank approval for a waiver on the settlement of all legal cases with Thai Vendor - Continued paying down of debt with Mega Bank resulting in bank loan decreased by USD$5 million with the Company currently on track to pay down all remaining debt in FY21

Republic ofNew south walesBante me cheayDonaco internationalAristo international hotelStar vegas resort clubDonaco international ltdDonaco international limitedClub star vegasMega bankInternational limitedThai vendorStar vegas resortStar vegasFacility agreementAsia pacific

Casino news | Casino operator returns to positive EBITDA

Casino news | Casino operator returns to positive EBITDA
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