Casino op Donaco Announces Dec Quarterly Rise

Donaco International, the Australian-listed operator of several Asian casinos, said its quarterly results for the December 31 period were “significantly stronger” than those for the four months from July to October.

The company said in a trading update to the Australian Stock Exchange on Tuesday. The company plans to release official results for the six-month period from Feb. 27 to Dec. 31.

The company reported losses after A$124.5 million in taxes for the fiscal year ended June 30. In December, the board said it would begin a strategic review of up to three months to investigate how to release cash from the business.

Donaco’s results have been influenced by several factors in recent years, the company said. In addition, in early December, the group announced that Joey Lim Keong Yew, a member of the family that founded Genting Bhd, and Donaco’s managing director and CEO, had received a three-month leave to address “health and personal issues.”

Challenges facing the company include a legal dispute over allegations of unfair competition allegedly executed by a Thai supplier of Star Vegas Resort and Club (pictured) in Poipet, Cambodia. The venue is particularly targeted at gamblers from neighboring Thailand, where casinos are illegal.

In an update on Tuesday, Donaco said of Star Vegas, “net profit for the December 2018 quarter was THB 421.28 million [US$13.3 million], compared to THB 470.25 million earned in the four months to October 2018.”

In addition, Starvegas posted December 2018 quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA), which was “well above” EBITDA’s THB169.35 million reported in the four months to Oct. 31, it added.

BY: 파워볼사이트

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