Donaco posts rise in net revenue for Q2
The increase in revenue was attributed to the growth of the company’s Star Vegas casino in Cambodia.
Australia.- Donaco International has shared its financial results for the second quarter of the financial year 2024/25. It’s reported that net revenue was AU$10.3m (US$6.4m), up 5.9 per cent year-on-year.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) grew from AU$5.5m (US$3.6m) to AU$5.77m (US$3.59m) sequentially. EBITDA was up 14 per cent in year-on-year terms. The casino operator attributed the rise to Star Vegas’ steady growth and consistent visitation numbers.
DNA Star Vegas in Cambodia produced net revenue of AU$6.57m (US$4.08m), up 4.29 per cent from AU$6.30m (US$3.91m) in the previous quarter and up 7.35 per cent in year-on-year terms. Property-level EBITDA was up 16.9 per cent year-on-year to AU$4.22m (US$2.62m). Average daily visitation reached 957 players, driven by the membership loyalty program launched last January.
Revenue from Aristo Casino in Vietnam fell 2.7 per cent from AU$3.95m (US$2.45m) to AU$3.73m (US$2.32m) in quarter-on-quarter terms and 3.3 per cent year-on-year. The property’s EBITDA was AU$2.31m (US$1.44m). Average daily visitation remained stable at 300 players.
Donaco ended the second quarter of the year with an increased cash position of AU$36.26m (US$22.53m).
Donaco’s non-executive chairman, Porntat Amatavivadhana, said: “Donaco has reported another consecutive quarter of stable earnings and performance across the Group, while continuing to implement operational synergies.
“The December Quarter enabled Donaco to strengthen its cash position which now stands at AU$36.26m, reflecting a 10 per cent increase over the previous quarter. This increase is attributable to a steady performance across our operations, combined with the ongoing execution of stringent cost control measures.
“Focusing on Aristo, the operation performed consistently with previous quarters and demonstrated improvement over the last year. There is no further update on the outcome of the legal proceedings to challenge the validity of Vietnam’s General Department of Taxation following its decision to impose tax on unredeemed chips held at Aristo. We will continue to keep our shareholders informed as more information comes to light.
“We are actively monitoring developments in Southeast Asia’s evolving gaming industry landscape, including the Thailand Government’s proposed Draft Entertainment Complex Business Act (Draft Bill), and will continue assessing its potential impact on our DNA Star Vegas operations.”
Donaco said it has been monitoring the development of the draft bill in Thailand which will legalise casinos and regulate entertainment complex operations in the country. It said it would “continue to assess the implications” for the DNA Star Vegas operation.
