Losses attributed to zero revenues and costs associated with maintaining its properties. <\/p>\n\n\n\n\n\n\n\n
Australia.- Casino operator Donaco International Ltd\u00a0<\/strong><\/em>said in a filing that it expects a \u201ccash burn run rate\u201dof between\u00a0\u20ac700,000 and \u20ac800,000 per month\u00a0during the temporary closure of its two casinos. <\/p>\n\n\n\n This is attributed to the revenue loss as well as costs associated with \u201cmaintaining the casino assets\u201d and other \u201cassociated corporate costs”.<\/p>\n\n\n\n Donaco\u2019s two casinos, the Star Vegas Resort and Club<\/strong><\/em>, near Cambodia\u2019s border with Thailand, and the Aristo International Hotel, near Vietnam\u2019s border with China have been temporarily closed do to Covid-19.<\/p>\n\n\n\n “The temporary action follows the Cambodian government\u2019s announcement mandating the closure of all casinos from 1 April 2020, alongside the Vietnam government\u2019s measures to temporarily close all casinos for a period of 15 days from 1 April 2020,” Donaco said in its latest filing.<\/p>\n\n\n\n “As a result, Donaco has had to take difficult, but unavoidable, measures in relation to its staff, including reductions in headcount, placing employees on leave, standing down casual staff and deferring non-essential expenditure,” the firm told the Australian Securities Exchange.<\/p>\n\n\n\n The document quoted Donaco\u2019s chairman, Mel Ashton, as saying: \u201cThe situation we are facing with the Covid-19 pandemic is unprecedented and we\u2019ve unfortunately had to take some drastic measures with our staff, including redundancies and pay cuts.<\/p>\n\n\n\n “This is to ultimately ensure the business remains afloat and to be in a healthy financial position once we eventually rebuild the team and restart operations,” he added. <\/p>\n\n\n\n The filing went on to state:<\/p>\n\n\n\n “Donaco continues to consider liquidity measures and sources of a capital injection to guarantee the business remains in a sustainable and dynamic position during this period of global uncertainty.<\/p>\n\n\n\n “The duration of the Covid-19 crisis and the period of closure of the casinos will obviously affect the requirement for a capital injection but \u2026 the board is confident of both the ability to maintain the business during an extended period of closures and source capital as required to strengthen the balance sheet.”<\/p>\n","protected":false},"excerpt":{"rendered":" Losses attributed to zero revenues and costs associated with maintaining its properties.<\/p>\n","protected":false},"author":2,"featured_media":0,"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 Ltd anticipates a monthly cash burn of \u20ac700,000-\u20ac800,000 due to the temporary closure of its Cambodian and Vietnamese casinos, mandated by government COVID-19 measures. The operator is implementing staff reductions and actively exploring liquidity measures and capital injections to sustain operations and strengthen its balance sheet during this unprecedented period of zero revenue.","focusai_entities":"Donaco International Ltd, Star Vegas Resort and Club, Aristo International Hotel, Australian Securities Exchange, Mel Ashton","focusai_location":"Australia, Cambodia, Vietnam, Thailand, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Capital Injection Strategy","query":"What specific forms of capital injection is Donaco International Ltd exploring, and what is the projected timeline for securing these funds to mitigate liquidity risk?"},{"label":"Post-Closure Reopening Plan","query":"What is Donaco International Ltd's strategic plan for workforce re-engagement and operational ramp-up once regulatory mandates permit the reopening of its Cambodian and Vietnamese properties?"}],"footnotes":""},"categories":[160,16336,161,163],"tags":[289,30,12436,94],"class_list":["post-5351","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-australasia-news","category-daily-news","category-finance-news","tag-australia","tag-cambodia","tag-casinos","tag-vietnam"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5351","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=5351"}],"version-history":[{"count":10,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5351\/revisions"}],"predecessor-version":[{"id":777041354,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5351\/revisions\/777041354"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=5351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=5351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=5351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}