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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. ....
Donaco International Ltd (ASX:DNA) Quarterly Activities - Cashflow Report
FRA:UGS) provides the following trading update for the three-month period ending 31 December 2020. Since the reopening of the Star Vegas Resort and Club ( Star Vegas ) in Cambodia in late September, and the Aristo International Hotel ( Aristo ) in Vietnam, the December quarter was a turnaround period for Donaco with a return to positive EBITDA of A$3.70m and negative EBITDA of A$0.13m respectively, resulting in positive EBITDA of A$3.57m for the overall group. The result was driven by a number of strategic initiatives executed by the new Board and Executive team to weather the impact from the pandemic, including a shift in customer targeting, with a renewed focus on attracting clientele from the local region to Star Vegas, to in turn reduce international staff expenses. This was combined with a continued cost control strategy, including the adjustment of service provider agreements, ....