Donaco posts net revenue of US$3.7m for Q4
The company has reported EBITDA of AUD1.78m (US$1.25m) for the fourth quarter.
Australia.- Donaco International has shared its financial results for the three-month period ending December 31. It’s reported group net revenue of AU$5.3m (US$3.7m) and EBITDA of AU$1.78m (US$1.25m) as a direct result of the reopening of The Star Vegas casino.
The Star Vegas achieved EBITDA of AU$2.7m (US$1.9m) for the quarter as it reached full operational capacity. It generated net revenue of AU$5.12m (US$3.6m).
Meanwhile, Aristo Casino in Vietnam, which started limited operations on May 8, 2020, experienced reduced revenue and EBITDA due to Covid-19 measures. For the fourth quarter of 2022, Aristo recorded net revenue of AU$190,000 (US$134,000). EBITDA was negative AU$270,000 (US$190,000).
Despite the slowdown, there is a positive outlook for Aristo’s future operations with mainland China having announced the full reopening of its borders. This news is expected to increase travel flow to the region. Donaco has sustained positive EBITDA quarters since the first half of fiscal year 2021.
Donaco’s non-executive chairman, Porntat Amatavivadhana, stated: “Our December quarter was encouraging with steady contribution from DNA Star Vegas following the increase in international travel from neighbouring countries. Promisingly, it seems we are coming out from the effects of the Covid-19 pandemic with international travel set to continuously improve.
“The long-term future for our Aristo operation in Vietnam also looks bright. The construction of Sapa airport in Lao Cai, the region where Aristo is located, in conjunction with the Lao Cai Ministry of Culture, Sports and Tourism recently recognising Aristo as the only 5-star hotel in the region, is a key way for our casino to attract a significant number of new customers.
“Backed by a robust balance sheet position, our two casinos have a solid operational strategy, and I am incredibly optimistic about the future path for Donaco.”