Donaco announces settlement of loan facility with Mega Bank

Donaco has confirmed it has fully repaid the borrowed amount of US$120m with its creditor Mega International Commercial Bank.

Australia.- Donaco International has confirmed through a statement the settlement of the loan facility with its main lender Mega International Commercial Bank Co Ltd, known as Mega Bank.

The company said it has fully repaid the initially borrowed amount of AU$131.54m (US$100m) stipulated in 2015, re-drawn AU$26.31m (US$20m) in 2016 and refinanced AU$74.98m (US$57m) in 2017 (equivalent to a total of US$120m borrowings).

According to the statement, the final instalment of US$1.8m was paid in December 2021. 

Donaco also stated that there is no more outstanding loan balance owed to its lender Mega Bank.

At the end of the statement, the company said it “continues to preserve a robust balance sheet and maintain prudent cost control as it awaits for the Covid-19 pandemic to ameliorate in Vietnam and Cambodia.”

Last October, Donaco reported revenue of $7.6m and a negative EBITDA of $0.3m for the third quarter of the year 2021.

During the third quarter of the last year, casino revenue was AU$50,000 while in the previous quarter it had reached AU$130,000.

Donaco International also reported that net revenue for the fiscal year 2021 was down 80.7 per cent from AU$10.32m to AU$53.49m. 

Negative group earnings before interest, taxation, depreciation and amortisation (EBITDA) was AU$70,000 (US$52,274).