Donaco has reported that it reduced its monthly cash burn to US$380,408 during the third quarter of the year.
Australia.- Donaco International has reported revenue of $7.6m and negative EBITDA of $0.3m for the third quarter of the year as the impact of the Covid-19 pandemic and border restrictions continues. The company suffered the temporary closure of Star Vegas on April 27 amid new Covid-19 infections in Cambodia. It has since reopened.
During the third quarter, casino revenue was AU$50,000 while in the previous quarter it has reached AU$130,000. However, Donaco is confident the Cambodian and Thai governments’ plan to reopen borders will help the casino operator recover as the venue is highly dependant on tourists from Thailand.
According to local media reports, authorities in Thailand will lift restrictions for those who have been vaccinated from November.
As for the venue in Vietnam, Aristo International has posted net revenue of AU$710,000 for the third quarter of the year. It posted a positive EBITDA of AU$300,000 compared to negative AU$70,000 in the previous quarter. Aristo International registered an average of 12 visitors per day compared to 15 per day in the second quarter of the year.
Donaco net revenue declines to AU$10.32m in FY21
Donaco International has reported that net revenue for the fiscal year 2021 was down 80.7 per cent from AU$10.32m to AU$53.49m. Negative group earnings before interest, taxation, depreciation and amortisation (EBITDA) was AU$70,000 (US$52,274).
However, Donaco reported a statutory net profit after tax, of AU$25.2m for the financial year 2021 due to proceeds from a settlement of a non-competition dispute relating to Star Vegas.
For the first half of the fiscal year, the company saw positive EBITDA of AU$200,000 after attracting local clientele to its Cambodia and Vietnam properties.