Cambodian and Vietnamese casino operator Donaco International Limited has reported significant financial results for the second quarter of this year, despite certain operational challenges.
The company’s net revenue rose to AU$9.73 million ($6.44 million), a slight increase from the previous quarter’s AU$9.7 million ($6.2 million).
However, EBITDA saw a decline, dropping to AU$5.06 million ($3.34 million) from AU$5.7 million ($3.6 million), though it represented a substantial year-on-year increase of 184 percent.
The Aristo International Hotel in Vietnam recorded a 45 percent quarter-on-quarter revenue increase to AU$3.61 million ($2.39 million), with property-level EBITDA surging by 83 percent to AU$2.24 million.
This growth is attributed to the reopening of borders with China, which boosted daily visitation numbers. In contrast, DNA Star Vegas in Cambodia reported net revenue of AU$6.12 million ($4.05 million) and property-level EBITDA of AU$3.61 million, with the decline in performance linked to reduced visitor numbers.
Donaco’s non-executive chairman, Porntat Amatavivadhana, emphasized that the December quarter was marked by stringent financial management and robust performance at the Aristo, driven by higher tourism following China’s border reopening.
He expressed optimism for the remainder of the financial year, citing ongoing tourism campaigns and infrastructural developments like the upcoming Sapa airport near the Aristo operation, which is expected to further enhance visitation and revenue
Still, looking ahead, the company highlighted potential disruptors, including the potential legalization of casinos in Thailand, which could impact Donaco’s Star Vegas operations, and a tax audit on unredeemed chips at the Aristo International Hotel in Vietnam.
