Donaco posts net revenue of US$4.98m for Q1
The company has reported EBITDA of AUD4.07m (US$2.69m) for the first quarter.
Australia.- Donaco International has shared its financial results for the three-month period ending March 31. It’s reported group net revenue was up 42.45 per cent from AU$5.3m (US$3.7m) to AU$7.55m (US$4.98m) in quarter-on-quarter terms.
Donaco’s earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to AUD4.07m (US$2.69m), compared to a negative figure of AU$1.37m in the prior-year period. According to the company’s statement, the first quarter proved to be “a highly accelerated period for Donaco with DNA Star Vegas (Star Vegas) returning to full operational capacity after more than a year of closure due to Covid-19 restrictions.”
Its Cambodia venue recorded an increase in net revenue from AU$5.12m in the preceding quarter to AU$6.29m. Property EBITDA rose to AU$4.17m, compared to AU$2.69m in the fourth quarter of 2022.
Meanwhile, Aristo Casino in Vietnam began a gradual reopening with encouraging momentum. The company said this was driven by international travel flow recommencing as mainland China, the country where the vast majority of Aristo’s patrons originate from, announced the full reopening of its borders in January.
Aristo’s net revenue increased to AU$1.26m, a substantial improvement from AU$0.19m in the previous quarter. The property’s EBITDA rose to AU$0.58m, as compared to the negative AU$0.27m reported in the fourth quarter of 2022.
Donaco’s non-executive chairman, Porntat Amatavivadhana, stated: “The March quarter marks a significant turnaround for Donaco, with promising performance from DNA Star Vegas and early progress from the gradual reopening of Aristo.
“After a long period of impact from the pandemic, we are pleased to see positive signs of recovery and a promising outlook for the business. The recommencement of international travel flow, particularly from Chinese tourists, is a trend that is expected to benefit our operations in Cambodia and Vietnam.
“With a solid strategy, we are confident in our ability to capitalise on these favourable developments and continue delivering sustainable growth for our shareholders over the long term.”