Donaco posts revenue of AU$0.2m for Q1

Donaco International Limited has shared a trading update for the first quarter of the year.

Australia.- Donaco International has reported an EBITDA loss of AU$1.4m for the first quarter, compared with a loss of AU$0.29 in the same quarter last year. Revenue was AU$0.2m.

The company’s Star Vegas casino in Cambodia has been closed since April 27, 2021, while Aristo Casino in Vietnam has been open on a limited basis since May 8, 2020. Star Vegas will reopen when Thailand’s border restrictions ease and conditions improve, the company said.

The board is considering additional balance sheet protections to ensure the company remains sustainable until the situation improves.

Donaco’s non-executive chairman Paul Porntat said: “The March Quarter has been another challenging period for Donaco. We are ready to resume our Star Vegas casino as conditions improve and once we receive the go-ahead from Government authorities. As we wait for this to happen, we are exploring additional options to protect the balance sheet and guarantee the business remains in a sustainable position until broader conditions improve. 

“We remain optimistic about Donaco’s long term future. Vaccination rates have increased, leading to the easing of borders and travel restrictions in the regions we operate. It will take some time before travel patterns return to normal, and we are prepared for when international tourism will steadily resume again.”