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Donaco orders strategic review to improve debt, cash flow position

Newsdesk by Newsdesk
Thu 13 Dec 2018 at 12:52
Donaco wins freezing order extension against Thai vendors
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Australian-listed Donaco International Limited has announced that it is conducting a strategic review in order to restructure its bank debt and free up cash flow.

Donaco revealed on Thursday that it is currently in discussions with a number of parties who it says have put forward proposals to unlock the value of the company’s assets and provide better value to shareholders. It also claimed that recent trading of Donaco shares were not a fair reflection of the value of the company’s assets.

As of early Friday its share price sat at AU$0.07, a significant fall from $0.35 at the start of the year and as high as AU$1.48 in 2014.

Donaco currently owes US$39.9 million to Mega Bank which is secured only against the assets of its Star Vegas business in Poipet, Cambodia and not at all against Aristo in Vietnam. The strategic review will investigate ways to either restructure that debt or eliminate it altogether.

Donaco said it expects the strategic review to take around three months to complete.

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The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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