The casino operator needs Mega International Commercial Bank\u2019s consent to issue payments agreed in a legal settlement.\u00a0\u00a0<\/p>\n\n\n\n\n\n\n\n
Australia.-\u00a0Donaco International has said it has made progress towards reaching an agreement with a former Thai vendor over\u00a0DNA Star Vegas.<\/p>\n\n\n\n
Donaco reached an agreement<\/a><\/em><\/strong> with its Thai partners at\u00a0Star Vegas Casino in Cambodia earlier this year. Two former executives of the casino,\u00a0Lee Bug Huy and Paul\u00a0Porntat\u00a0Amatavivadhana, were named on Donaco\u2019s board<\/a><\/em><\/strong> in August.\u00a0\u00a0<\/p>\n\n\n\n The company has now announced that it has made progress toward settling litigation over the Star Vegas business and that the parties have submitted withdrawal requests to the relevant courts and authorities.\u00a0\u00a0<\/p>\n\n\n\n Donaco said: \u201cThe company is awaiting judgement from courts and confirmation from authorities to\u00a0fulfil\u00a0the conditions stated in the settlement agreements.\u201d\u00a0<\/p>\n\n\n\n It needs\u00a0Mega International Commercial Bank’s consent to fulfil parts of the settlement, including payment of any outstanding rent and US$20 million to Lee Hoe Property.\u00a0<\/p>\n\n\n\n The firm stated it is in discussion with Mega Bank and has sought the consents required.<\/p>\n\n\n\n It said: “Donaco remains confident that Mega Bank will support the settlement reached with the Thai Vendors and the continuation of the Star Vegas Casino.\u201d\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":" The casino operator needs Mega International Commercial Bank\u2019s consent to issue payments agreed in a legal settlement.\u00a0\u00a0<\/p>\n","protected":false},"author":2,"featured_media":11517,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Donaco International has announced significant progress in settling litigation with former Thai vendors concerning its Star Vegas Casino in Cambodia. The resolution hinges on securing consent from Mega International Commercial Bank for the agreed-upon payments, including US$20 million to Lee Hoe Property and outstanding rent.","focusai_entities":"Donaco International, Mega International Commercial Bank, DNA Star Vegas, Star Vegas Casino, Lee Bug Huy, Paul Porntat Amatavivadhana, Lee Hoe Property","focusai_location":"Australia, Thailand, Cambodia","focusai_target_profile":"ceo_executive (0.95), compliance_legal (0.98), operator_casino (0.9), payments_fraud_aml (0.75), investor_analyst (0.97), journalist_researcher (0.92)","focusai_suggestions":[{"label":"Mega Bank Consent Conditions?","query":"What specific conditions or assurances is Mega International Commercial Bank requiring from Donaco International to grant consent for the settlement payments?"},{"label":"Settlement Finalization Timeline?","query":"What is the projected timeline for securing Mega International Commercial Bank's consent and subsequently finalizing the legal settlement with the Thai vendors?"}],"footnotes":""},"categories":[157,161,16333],"tags":[30,966,4503],"class_list":["post-11515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-daily-news","category-south-east-asia-news","tag-cambodia","tag-donaco","tag-legal"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11515"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11515\/revisions"}],"predecessor-version":[{"id":11523,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11515\/revisions\/11523"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11517"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}