Donaco International confirmed on Tuesday a further seven-day extension of the temporary closure of its casino operations at the Aristo International Hotel in Lao Cai, Vietnam.
“The company believes the current Covid-19 situation poses a risk to the health and safety of staff and visitors at Aristo,” the statement explained,
The firm noted that its Star Vegas Casino operations in Poipet, Cambodia also remains closed, a fact that “will have a material impact on Donaco’s business.”
On the other hand, the statement noted that “Donaco is successfully undertaking pragmatic measures to reduce costs.”
In recent years two companies, Donaco International and Silver Heritage, listed on the Australian Securities Exchange with the high ambition to crack the Asian casino market. However, as the new decade begins, both of these firms face deep crises. To what extent did they fail in the face of common challenges?
From India to Australia, casinos across the Asia Pacific region have closed their doors in response to efforts to combat the spread of the coronavirus, with little to no visibility at present as to the evolution of the situation.
The Coronavirus, now renamed as Covid-19, has devastated the near-term outlook for Asia’s casino operators, though analysts still expect demand to snap back sharply once the outbreak is under control. The big question is when that might be.
Donaco International said its Star Vegas property in Cambodia reopened on Friday, though on a limited basis to test operational systems.
Donaco International says Lee Bug Huy, one of the businessmen who sold the Star Vegas casino in Cambodia to the Australian operator, will be its new CEO.
Donaco International said it has seen “significant progress” in moves towards reopening borders in Southeast Asia and its two casinos will be ready to resume operations as soon as the situation warrants.
Donaco International reported to the Australian Securities Exchange that the firm is currently without a CEO as Paul Arbuckle stepped down as scheduled on August 4, but that a new appointment is expected to be announced shortly. The note explained that the Donaco board feels that the appointment of an interim CEO is unnecessary because […]
Donaco International has appointed the Thai vendor of its Star Vegas property in Cambodia to its board of directors as part of an accord for underwriting a share issue in the company.
Australia-listed Donaco International will be placing a stronger emphasis on controlling costs and expenses after weak June quarter results due to the continued impact of Covid-19 travel restrictions on the company’s operations. The company posted a 95.6 percent fall in revenue in the June 2020 quarter, reaching A$0.9 million. Operating expenses reached $2.6 million. DNA […]
Donaco International said it expects Cambodian authorities to allow its Star Vegas casino in Poipet to reopen in the next few weeks, although visitor numbers will remain low due to the closure of the border with Thailand.