Donaco casinos continue to struggle

Net revenues have fallen from over US$17m in the third quarter of 2019 to US$231,956 in the same period this year.  

Australia.- Donaco International has reported AU$0.33m (US$0.23m) in net revenue for the quarter ending September 30, down from AU$24.25m (US$17.04m) in the same period in 2019.  

The group’s EBITDA went from AU$8.91m (US$6.26m) in the third quarter of last year to negative US$0.39m.

The operator said that the closure of borders due to the Covid-19 pandemic continues to impact its operations.  

DNA Star Vegas reopened on September 25 on a limited scale, but the border between Cambodia and Thailand, where most of its patrons came from, remains closed.  

For the six days of September that it was open, the casino recorded US$0.9m in rolling chip VIP turnover, compared to US$393.8m in the same period in 2019, and net revenues of US$0.9m, down from US$11.65m.

Average daily visitation was around 52 in the past quarter, compared to an average 4,100 a day in the same period last year.

The Aristo property in Vietnam reopened in May and continues to operate on a limited basis. It has also been impacted by the closure of the border with China.

Rolling Chip VIP turnover was US$18.8m, down from US$247m in Q3 2019. Net revenue totalled US$0.14m, down from almost US$5 million. Visitation plunged from 486 patrons a day to 12.  

During the quarter Donaco refreshed its board and named a new CEO. The operator says cash burn is sustained at USD$700,000 per month, in line with its targeted range.