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Donaco profits widen in FY17H1

Australia-listed Donaco International posted a higher profit in the first half of FY17, up 5 percent to A$14.8 million (US$11.4 million), according to a filing to the ASX on Thursday.

Group revenue was A$59 million, down from A$68.9 million in the prior year period.

The company said its overall performance was consistent with its trading update released last year at its November AGM.

Aristo, its boutique casino in northern Vietnam posted EBITDA of RMB 42.6 million (US$6.2 million). The company said the business benefited from “management initiatives to increase mass market visitation and reduce exposure to VIP segment.”

Star Vegas, its casino in Poipet, reported EBITDA of THB 803 million (US$23 million), down 17 percent year-on-year. Donaco said reduced VIP win rate, as well as weaker consumer sentiment and economic conditions in Thailand was only slightly offset by a reduction in costs, particularly ones related to junket commissions and operating expenses.

The company said it is anticipating improved performance for both venues in the second half of FY17, with operational performance showing improvement during recent weeks at Star Vegas, and marketing strategies for Aristo continuing to hone in on mass market players.

More news from this jurisdiction

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Cambodia, VietnamThursday, Nov 24, 2016

Donaco International says it will be focusing on further reducing debt, consider “additional capital management initiatives” and further opportunities to grow its business over the next year.

Vietnam, CambodiaFriday, Oct 14, 2016

Earlier this week, it was reported by media that former Macau junket boss, Mr Huang Shan, suspected of embezzling an estimated $1.3 billion of Macau casino junket investor funds was “captured” in a casino in Cambodia.

Cambodia, VietnamThursday, Oct 13, 2016

Former Macau junket boss, Mr Huang Shan, who is suspected of embezzling an estimated $1.3 billion of Macau casino junket investor funds has been reportedly caught in Cambodia.

Cambodia, VietnamWednesday, Aug 19, 2015

Donaco International Limited, which operates casinos in Vietnam and Cambodia, has signed an exclusive sponsorship agreement with Manchester United Football Club.

Vietnam, CambodiaTuesday, May 12, 2015

Australia-listed Donaco International said visitation to its Aristo International casino in northern Vietnam doubled in March and was up 43 percent in April as VIP numbers rebounded.

Vietnam, CambodiaMonday, Mar 16, 2015

A Vietnamese man was found dead after hanging himself at a casino in Cambodia, leaving behind heavy debts.
The body of the 53-year-old man was discovered inside a guesthouse bathroom of a casino in Svay Rieng Province, which borders Vietnam, according to local media.