The Australian-listed company has reported it returned to positive EBITDA For October – November due to “strategic initiatives”
Australia.- Gaming group Donaco International has revealed it returned to positive EBITDA in October and November, after months in the red.
The Australian company managed to reach a stable position in the last trimester thanks to “strategic initiatives” and cost-cutting measures implemented at its two casinos in Southeast Asian.
The firm reported EBITDA of US$540,000 in October and US$800,000 in November, adding that the trend would continue into December with its flagship Cambodian casino, Star Vegas in Poipet, no longer making a loss.
The company had reported a Group EBITDA loss of AU$2.7m (US$1.9m) in the three months to 30 September.
The firm stated: “The main drivers of this growth are the strategic initiatives executed by the new Board and executive team to weather the impacts from the Covid-19 pandemic, alongside the continued cost control strategy in place.
“Strategic initiatives include a shift in customer targeting, with a renewed focus on attracting clientele from the local region to Star Vegas, to in turn reduce the company’s international staff expenses and provide a solid platform for growth.”