{"id":777020171,"date":"2024-10-25T09:40:31","date_gmt":"2024-10-25T12:40:31","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777020171"},"modified":"2026-04-22T04:49:34","modified_gmt":"2026-04-22T07:49:34","slug":"donaco-posts-net-revenue-of-us6-79m-for-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/donaco-posts-net-revenue-of-us6-79m-for-q1","title":{"rendered":"Donaco posts net revenue of US$6.79m for Q1"},"content":{"rendered":"\n

Net revenue was up 9.52 per cent year-on-year but down 4.09 per cent sequentially.<\/p>\n\n\n\n\n\n\n\n

Australia.-\u00a0Donaco International\u00a0<\/strong>has shared its financial results for the first three months of the financial year 2024\/25. It\u2019s reported that net revenue was AU$10.25m (US$6.79m), down 4.09 per cent\u00a0in quarter-on-quarter terms<\/a>\u00a0but up 9.52 per cent year-on-year. <\/p>\n\n\n\n

Earnings before interest, taxes, depreciation and amortisation (EBITDA) declined from AU$6.34m (US$4.15m) to AU$5.5m (US$3.6m) sequentially. The casino operator attributed the fall to Star Vegas’ lower-than-expected performance, mainly due to registration fees of new slot machines of AU$0.37m in September.<\/p>\n\n\n\n

DNA Star Vegas <\/strong>in Cambodia produced net revenue of AU$6.30m (US$4.17m), down 7.89 per cent from AU$6.84m (US$4.45m) recorded in the previous quarter. The figure was also down 12.96 per cent in year-on-year terms. Property-level EBITDA was AU$3.83m (US$2.54m). Average daily visitation remained stable at 941 players, driven by the company\u2019s membership loyalty program launched in January.<\/p>\n\n\n\n

Revenue from Aristo Casino<\/a> in Vietnam slightly declined from AU$3.97m (US$2.58m) to AU$3.95m (US$2.62m) in quarter-on-quarter terms. When compared to the first quarter of the financial year 2023\/24, net revenue was up 59.27 per cent. The property\u2019s EBITDA was up 2.02 per cent to AU$2.52m (US$1.67m). Average daily visitation increased from 291 to 306 players sequentially.<\/p>\n\n\n\n

Donaco ended the September Quarter with an increased cash position of AU$33.02m (US$21.85m). Payments to related parties of the entity and their associates totalled AU$195k, in the form of payments to directors and their associates for salaries and contracted services.<\/p>\n\n\n\n

Donaco\u2019s non-executive chairman, Porntat Amatavivadhana<\/strong>, said: “In the September Quarter, our two operations, DNA Star Vegas and Aristo, performed in line with the prior quarter, including steady daily visitation numbers. Looking specifically at Star Vegas, we were expecting a higher September Quarter for the asset, which was impacted by the registration fees from new slot machines, equivalent to AU$0.37m.<\/p>\n\n\n\n

“Our cash position remains strong and increased to AU$33.02m. We remain committed to executing our strategy as we navigate Southeast Asia’s evolving gaming industry. As part of this, we are evaluating potential disruptors, such as the proposed Integrated Entertainment Business Act in Thailand, a bill to allow casinos to operate legally within entertainment complexes in the country, and the separate Aristo tax matter.\u201d<\/p>\n\n\n\n

Donaco noted the potential legalisation of casinos in Thailand<\/strong> may affect DNA Star Vegas\u2019 operations and cross-border tourism in the region. The casino operator said: “Donaco is currently assessing how this development might impact its business. While there is no immediate effect on Donaco\u2019s financials, should the bill pass, future implications may require re-evaluation, particularly as the majority of DNA Star Vegas\u2019 patrons come from Thailand. Donaco will continue to closely monitor the situation and assess any potential impacts on its operations.”<\/p>\n\n\n\n

See also: <\/strong>Legalisation of casinos in Thailand: draft bill could be sent to cabinet by year-end<\/a><\/p>\n\n\n\n

The company reported that Vietnam\u2019s General Department of Taxation (GDT) had rejected Aristo\u2019s appeal concerning the tax owed for floating chips<\/strong>. Subsequently, Aristo filed a complaint with the local court and was granted permission in October to begin legal action to contest the basis and validity of GDT\u2019s ruling. The company will provide an update regarding the outcome of the legal action in due time. The potential liability of around AU$8,857,906 <\/strong>(based on the spot rate as of June 30, 2024) could affect Donaco\u2019s financial situation if GDT\u2019s ruling remains in effect.<\/p>\n","protected":false},"excerpt":{"rendered":"

Net revenue was up 9.52 per cent year-on-year but down 4.09 per cent sequentially.<\/p>\n","protected":false},"author":176,"featured_media":19768,"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 reported mixed Q1 FY24\/25 financial results, with net revenue up 9.52% year-on-year but down 4.09% sequentially, primarily due to registration fees for new slot machines at DNA Star Vegas. The company is actively monitoring the potential legalization of casinos in Thailand and pursuing legal action against a tax ruling in Vietnam concerning Aristo Casino, while maintaining a strong cash position.","focusai_entities":"Donaco International, DNA Star Vegas, Aristo Casino, Porntat Amatavivadhana, Vietnam\u2019s General Department of Taxation (GDT)","focusai_location":"Australia, Cambodia, Vietnam, Thailand","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.9), operator_casino (1.0), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Thailand Casino Impact","query":"What is Donaco's projected financial impact and strategic contingency plan should the Integrated Entertainment Business Act pass in Thailand, particularly concerning DNA Star Vegas's patron base?"},{"label":"Aristo Tax Dispute Resolution","query":"What is the estimated timeline and potential financial exposure for Donaco regarding the Aristo Casino tax dispute with Vietnam's GDT, and what precedents might this set for regional operators?"}],"footnotes":""},"categories":[16336,163],"tags":[966,23632],"class_list":["post-777020171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-donaco","tag-integrated-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020171","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777020171"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020171\/revisions"}],"predecessor-version":[{"id":777020190,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020171\/revisions\/777020190"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19768"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777020171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777020171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777020171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}