Cambodian and Vietnamese casino operator Donaco International has announced stabilized growth and operational improvements for the quarter ending 31st December 2024.
The company recorded a slight 0.5 percent quarter-over-quarter increase in net revenue, reaching AU$10.30 million ($6.4 million) in 4Q24, up from AU$10.25 million ($6.4 million) in 3Q24. This represents a 5.9 percent year-over-year increase compared to 4Q23.
Donaco reported EBITDA of AU$5.77 million ($3.6 million) in 4Q24, a 4 percent increase from AU$5.55 million ($3.5 million) in 3Q24, and a 14 percent increase compared to 4Q23.
In 4Q24, DNA Star Vegas, located on the Cambodia-Thailand border, reported higher net revenue of AU$6.57 million and property-level EBITDA of AU$4.22 million ($2.6 million), with average daily visitation reaching 957 players.
Aristo International Hotel, located in Vietnam, delivered steady performance during the quarter, generating net revenue of AU$3.73 million ($2.3 million), compared to AU$3.95 million ($2.5 million) in the previous quarter.
The slight decrease in revenue is also reflected in daily visitation. The press release mentions that the property’s average daily visitation remained consistent at 300 players, slightly down from 306 players in the previous quarter. The group also reported a modest decline in property-level EBITDA to AU$2.31 million ($1.4 million), down from AU$2.52 million ($1.6 million) in 3Q24.
Australia-listed Donaco ended the quarter with a stronger cash position of AU$36.26 million ($22.6 million), up from AU$33.02 million ($20.6 million), showcasing its financial resilience.
Non-Executive Chairman Porntat Amatavivadhana commented that the December quarter allowed Donaco to strengthen its cash position, reflecting a 10 percent increase over the previous quarter.
“This increase is attributable to steady performance across our operations, combined with the ongoing execution of stringent cost-control measures,” he said.
Star Vegas remains a key asset for the company. Donaco has committed to actively monitoring developments in Southeast Asia’s evolving gaming industry landscape, including the Thai government’s proposed Draft Entertainment Complex Business Act. The company will continue to assess the potential impact of these developments on its Star Vegas operations.