{"id":777029868,"date":"2025-08-04T09:13:48","date_gmt":"2025-08-04T12:13:48","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777029868"},"modified":"2026-04-21T20:25:28","modified_gmt":"2026-04-21T23:25:28","slug":"donaco-shareholders-approve-takeover-by-hong-kong-fund","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/donaco-shareholders-approve-takeover-by-hong-kong-fund","title":{"rendered":"Donaco shareholders approve takeover by Hong Kong fund"},"content":{"rendered":"\n

The scheme’s implementation is expected this month.<\/p>\n\n\n\n\n\n\n\n

Australia.- The casino operator Donaco International has received shareholder approval for the proposed acquisition by Argyle Street Management’s Hong Kong-based special-purpose investment vehicle On Nut Road Ltd. Some 98.11 per cent of votes cast at a shareholder meeting favoured the scheme, representing 77.5 per cent of participating shareholders. The deal now awaits approval from the Supreme Court of New South Wales, with a ruling expected on August 7<\/a>.<\/p>\n\n\n\n

Under the arrangement, On Nut Road will acquire the remaining 87.16 per vent of Donaco it does not already own, paying AUD0.045 (US$0.028) per share. If cleared, Donaco\u2019s shares will be suspended from the Australian Securities Exchange on August 8, with implementation of the scheme slated for August 19.<\/p>\n\n\n\n

An independent review by BDO Corporate Finance deemed the offer \u201cfair, reasonable and in the best interests of shareholders”. It offers a 50 per cent premium over Donaco\u2019s share price prior to the announcement. <\/p>\n\n\n\n

Donaco operates the DNA Star Vegas resort in Poipet, Cambodia, and the Aristo International Hotel in Lao Cai, Vietnam. The company has seen challenges sine the pandemic. More recently, its flagship Cambodian property saw a steep revenue decline<\/a> due to border and power supply disruptions. In Q2 2025, group EBITDA dropped 57 per cent year-on-year, with revenue at Star Vegas down to AU$4.31m (US$2.79m).<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Hann Holdings gets green light for IPO<\/a>\n\t\t\t\t<\/p>\n<\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

The scheme’s implementation is expected this month.<\/p>\n","protected":false},"author":680,"featured_media":17419,"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 secured shareholder approval for its acquisition by On Nut Road Ltd., a special-purpose vehicle of Argyle Street Management, for AUD0.045 per share. This M&A transaction, offering a 50% premium, now awaits final approval from the Supreme Court of New South Wales, with implementation slated for August 19. The deal follows significant operational challenges for Donaco's Cambodian and Vietnamese casino properties, including revenue declines and EBITDA drops.","focusai_entities":"Donaco International, Argyle Street Management, On Nut Road Ltd., BDO Corporate Finance, Supreme Court of New South Wales, Australian Securities Exchange, Hann Holdings","focusai_location":"Australia, Hong Kong, Cambodia, Vietnam, Poipet, Lao Cai, New South Wales","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.75), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Donaco's Post-Acquisition Strategy","query":"What are Argyle Street Management's strategic plans for optimizing Donaco International's operational performance and market positioning in Cambodia and Vietnam post-acquisition, particularly concerning the identified revenue challenges?"},{"label":"Regional Market Impact","query":"How might this acquisition and Donaco's recent performance trends influence investor sentiment and M&A activity for other regional casino operators in Southeast Asia?"}],"footnotes":""},"categories":[157,16333],"tags":[289,966,24854],"class_list":["post-777029868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-australia","tag-donaco","tag-on-nut-road"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777029868","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\/680"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777029868"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777029868\/revisions"}],"predecessor-version":[{"id":777030042,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777029868\/revisions\/777030042"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17419"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777029868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777029868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777029868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}