Australia firms’ experience highlights risks of Asia markets

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? In Asia Gaming Brief’s investigation of this question, it became clear that we needed to grant our various sources anonymity, as there is a widespread perception that future litigation could yet arise in one or both cases. Donaco International listed on the ASX in February 2013 and Silver Heritage followed considerably later, in August 2016. Both firms began with strong business connections in Vietnam, the Lao Cai International Hotel (later the Aristo International Hotel) in the case of Donaco and the Phoenix International Club in Bac Ninh in the case of Silver Heritage. While the problems that beset Donaco and Silver...