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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Donaco International Limited    DNA   AU000000DNA0

DONACO INTERNATIONAL LIMITED

(DNA)
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Donaco International Ltd (ASX:DNA) Reopening of the Star Vegas Casino Operations

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07/29/2020 | 03:33am EDT

Sydney, Australia, July 29, 2020 - (ABN Newswire) - Donaco International Limited (ASX:DNA) (HAM:UGS) confirms that the Government of Cambodia has lifted the temporary closure of casino operations in the country.

Casinos in the country may now resume operations, contingent on receiving approval from the Ministry of Health (MOH) and implementing certain preventive measures against COVID-19.

The closure followed the Cambodian Government's announcement mandating the temporary closure of all casinos (see ASX announcement dated 31 March 2020).

The MOH has not yet confirmed when it will visit Donaco'sStar Vegas Resort & Club in Poipet, Cambodia to assess approval, however Donaco anticipates it will be within the next few weeks.

Donaco will provide an update to the ASX once the MOH inspection is complete.

The Company notes that Thailand has extended its state of emergency due to COVID-19 until 31 August 2020, which will likely impact the border reopening date.

As the majority of Star Vegas' visitors are from Thailand, Donaco expects patronage numbers will remain low at Star Vegas until the border between Thailand and Cambodia is reopened.

The Company is optimistic that the COVID-19 situation will continue to improve in the region Star Vegas operates in and the Cambodian Government's announcement is a positive step towards a resumption of normal operations.

Donaco is committed to implementing preventive measures against COVID-19 to ensure the safety and wellbeing of its employees, visitors and the broader Cambodian community.


About Donaco International Ltd:

Donaco International Limited (ASX:DNA) operates leisure, entertainment and associated technology businesses across the Asia Pacific region.

Donaco's largest business is the Star Vegas Resort & Club, a successful casino and hotel complex in Poipet, Cambodia, on the border with Thailand. Star Vegas was established in 1999, and is the largest and highest quality of the Poipet casino hotels. The property has more than 100 gaming tables, more than 1400 slot machines, and 385 hotel rooms.

Donaco's flagship business is the Aristo International Hotel, a successful boutique casino in northern Vietnam, located on the border with Yunnan Province, China. Established in 2002, the property has recently been expanded to a brand new five star resort complex with 400 hotel rooms. Donaco is a pioneer casino operator in Vietnam, and owns a 95% interest in the business, in a joint venture with the Government of Vietnam.

Contact:

Investors
Leo Chan / Kurkye Wong
Donaco International Limited
Leo.chan@donacointernational.com
Kurkye.wong@donacointernational.com

Media
Shane Murphy
FTI Consulting
+61 420 945 291
shane.murphy@fticonsulting.com

Copyright (C) 2020 ABN Newswire. All rights reserved., source Press Releases English


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Financials
Sales 2020 53,5 M 38,2 M 38,2 M
Net income 2020 -58,9 M -42,1 M -42,1 M
Net Debt 2020 19,2 M 13,7 M 13,7 M
P/E ratio 2020 -0,56x
Yield 2020 -
Capitalization 37,1 M 26,4 M 26,5 M
EV / Sales 2019 1,48x
EV / Sales 2020 0,97x
Nbr of Employees -
Free-Float 53,2%
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Managers
NameTitle
Bug Huy Lee Chief Executive Officer & Executive Director
Paul Porntat Amatavivadhana Non-Executive Chairman
Gordon Lo Chief Financial Officer
David John Green Independent Non-Executive Director
Kurkye Wong Non-Executive Director
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