GGRAsia – Border casino op Donaco posts positive EBITDA for Jul-Dec ggrasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ggrasia.com Daily Mail and Mail on Sunday newspapers.
Donaco International Ltd, an operator of border casinos in Southeast Asia, said in a Friday filing that the six months ending December 31 had seen the company return to positive earnings before interest, taxation, depreciation and amortisation (EBITDA). The firm added that it had achieved positive EBITDA “in each of the final three months of the half year, driven by proactive cost control strategy to navigate through Covid-19.”
Donaco posted a positive group EBITDA of AUD0.2 million (US$0.2 million) for the July to December period, compared to AUD13.8 million a year earlier. The firm confirmed it recorded group EBITDA of AUD2.7 million for the October to December 2020 period.
Donaco International Ltd, an operator of border casinos in Southeast Asia, confirmed in a Friday filing that the quarter ending December 31 had seen the company return to positive earnings before interest, taxation, depreciation and amortisation (EBITDA), mainly driven by results from its Cambodia resort.
Star Vegas Resort and Club (pictured in a file photo) in Poipet, near Cambodia’s border with Thailand, a country where casino gambling is prohibited, generated positive EBITDA amounting to AUD3.70 million (US$2.83 million) in the period, Donaco told the Australian Securities Exchange.
That figure was offset by AUD0.13 million in negative EBITDA for the group’s Aristo International Hotel and its associated casino, in Lao Cai on Vietnam’s border with China.
GGRAsia – Donaco states Star Vegas dispute formally concluded ggrasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ggrasia.com Daily Mail and Mail on Sunday newspapers.
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.