Donaco International Limited has announced that its principal lender, Mega International Commercial Bank has agreed to the deferral of the US$5 million principal payment that was due to be paid on Monday.
Mega Bank deferred the due date until the end of year, recognizing the company’s struggles in dealing with Covid-19 closures and other impacts on its business.
“Donaco welcomes this support from Mega Bank and extends thanks for the consideration given in supporting Donaco as the company continues to be impacted by Covid-19 related travel
restrictions and subsequent reduced patronage at Star Vegas and Aristo,” the company press release noted.
The facility agreement between Donaco and Mega Bank was originally reached in August 2017.
Donaco operates the Star Vegas Resort & Club in Cambodia and the Aristo International Hotel in Vietnam.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Tomakomai Mayor Hirofumi Iwakura has again pressed the Hokkaido prefectural authorities led by Governor Naomichi Suzuki to rejoin the IR race in the current cycle, arguing that the nine-month delay in the national licensing timeline provides adequate opportunity to resolve environmental and other concerns.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.