Donaco CEO optimistic for Star Vegas casino recovery
Donaco’s CEO has expressed confidence in the company’s Star Vegas casino in Cambodia.
Cambodia.- The CEO of Donaco International, Lee Bug Huy, said he expects the company will start to see a strong recovery over the coming year as the coronavirus pandemic starts to subside.
Speaking to investors after the release of the company’s financial results for the first half of its financial year, the exec expressed confidence in the Star Vegas casino, which is located in Poipet on the Thai border.
His optimism comes despite a recent jump in coronavirus cases in Cambodia, which led to the lockdown of Sihanoukville province, the country’s gambling hub.
Bug Huy said: “We anticipate this will be a temporary short-term impact, outweighed by a positive long-term outlook for the business as vaccinations commence in Southeast Asia in the second half of the year.
“We have executed an effective strategy during the [first half of the 2021 financial year] which has led to a return to positive EBITDA. We did everything we could during the first half to fix what had to be fixed internally and we are now ready to move forward once the COVID-19 situation improves.”
A recent report by Colliers International predicts that Cambodia, along with Macau, will lead the recovery of land-based gaming in the Asia Pacific region.
