Donaco revenue plummets 82% in first half
Donaco has shared its financial results for the first half of the financial year 2022. Ongoing border closures and the lack of tourists continue to affect its revenue.
Australia.- Donaco International has reported revenue of AU$1.1m (US$820,600) for the first six months of the financial year 2022. That’s a drop of 82 per cent year-on-year. EBITDA turned to a loss of AU$2.24m.
The company posted a statutory net loss after tax of AU$8.9m (US$6.4m), which compares to a AU$42.5m profit in the same period a year earlier. Donaco noted the impact of the temporary closure of Star Vegas amid new Covid-19 infections in Cambodia. The casino registered negative EBITDA of AU$1.2m.
The company said: “In the event that Donaco is unable to raise additional capital or debt to meet working capital requirements and/or there is an extended period before the resumption of normal casino operations, then this could have a material impact on the consolidated entity continuing as a going concern.”
Aristo International in Vietnam achieved positive EBITDA of AU$200,000 during the first three months of the fiscal year.
Paul Porntat, Donaco’s non-executive chairman, said: “Looking ahead I am optimistic about Donaco’s future. Strong vaccination rates in the region where we operate have led the governments of both Thailand and Cambodia to target the easing of border and travel restrictions.
“Additionally, towards the end of 2021, the government of Vietnam approved the construction of Sapa airport, which presents a significant opportunity for our Aristo casino to attract new customers.”
