Donaco signs deal to further VIP reach

Australian-listed Donaco International has signed a deal with international marketing agency Vivo Tower Ltd. to attract junkets from Macau, Hong Kong and Malaysia to its Star Vegas property, according to a filing from the company to the ASX on Friday.

Under the agreement, Vivo Tower will pay Donaco a minimum fixed fee of US$1.5 million in FY18, which will increase to US$3 million in subsequent years, plus a variable revenue share.

According to Donaco, Vivo Tower has already engaged Malaysian junket operator, Da Kim Global Group to bring in VIP customers starting from July 1, 2017.

“We are pleased to confirm the launch of a new era at Star Vegas, with a focus on increasing visitation from international players, in order to supplement the existing healthy Thai-facing business,” said Donaco managing director and CEO, Joey Lim.

More news from this jurisdiction

CambodiaTuesday, Sep 12, 2017

Cambodia’s draft gaming law will be submitted to the cabinet for approval within this month, opening the doors to foreign investment in the country’s gaming industry.

CambodiaTuesday, Sep 05, 2017

Macau casino investor Amax International Holdings has announced it has entered into a Letter of Intent to obtain the operating rights to a VIP room in Cambodia.

CambodiaThursday, Aug 24, 2017

Five South Korean nationals were arrested on Tuesday for illegal football gambling.

CambodiaSunday, Jul 16, 2017

Hedge fund Nine Masts Capital is challenging the revised terms of the convertible bond deal between NagaCorp and its founder, arguing that the agreement would short change minority shareholders.

CambodiaFriday, Jul 14, 2017

NagaWorld will be subject to an additional tax bill on its non-gaming operations, similar to the $16.6 million tax that was imposed last year.

CambodiaTuesday, Jul 11, 2017

Cambodian casino operator NagaCorp posted a boost in net profit for the half year ended June 30, 2017, attributed to robust business volume growth across all segments, particularly in VIP.

CambodiaMonday, Jun 26, 2017

Betsoft Gaming have signed a partnership deal with Clubvegas999.com, operated by Zustro.com, a site that works in association with the prominent land-based casino HaTien Vegas Entertainment resort.