• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 19 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

As 2Q results stabilize, Donaco warns of threat to its Cambodian border casino from Thai IR legislation

Newsdesk by Newsdesk
Mon 29 Jul 2024 at 05:47
Donaco looks inward as Lee Bug Huy named new CEO

Star Vegas in Poipet, Cambodia

18
SHARES
456
VIEWS
Print Friendly, PDF & Email

ASX-listed Donaco International Limited on Friday warned that any legalization of casinos in Thailand could have a significant impact on its Star Vegas casino, located in the Cambodian town of Poipet near the Thai border casino, with the company currently assessing the unwanted development.

Combined with a potentially negative tax implication following an audit of its Vietnamese operation Aristo International Hotel, located near the border with China, the headwinds overshadowed Donaco’s results announcement for the June 2024 quarter, which saw group-wide revenue grow 57% year-on-year but fall 15% sequentially to AU$10.8 million (US$7.08 million). Group EBITDA showed a similar trend, down 24% versus the March quarter to AU$6.34 million (US$4.15 million).

On the Thai casino issue, Donaco said, “In 28 March 2024, the Thailand government voted in favor of a study by a panel of lawmakers to allow casinos to operate within large entertainment complexes in the country.

“This study will be submitted to the Cabinet for a decision on the suitability of legalizing casinos in Thailand. The legalization of casinos in the country may impact Donaco’s Star Vegas operations and cross-border tourism in the region. Donaco is assessing the possible effects this development could have on the business.”

At Aristo, a recent tax audit by the Vietnam General Department Of Taxation has deemed that unredeemed chips deposited by customers must be counted as revenue, with the company facing a potential tax payment of around US$5.9 million. Donaco said it has engaged a consultant in Vietnam to lodge an appeal, with the result currently uncertain.

“While Donaco is pleased to report a strong recovery in earnings following the COVID-19 pandemic, these potential disruptors will be considered as the company navigates the evolving landscape of the gaming industry in Southeast Asia,” it said.

Donaco’s 2Q24 results were primarily impacted by the VIP gaming segment at Star Vegas, where rolling chip turnover almost halved – although final results were aided by an extraordinarily high 10.82% VIP win rate. The company explained that, variance aside, both Star Vegas and Aristo are looking more stable with strong visitation for the quarter. “Donaco has consistently reported robust financial and visitation numbers following stable quarters across our operations,” said Donaco’s Non-Executive Chairman, Porntat Amatavivadhana.

“In the period we’ve stabilized our operations and focus on providing a high-quality experience to our customers. This is evidenced by the improving average daily visitation across both Star Vegas and Aristo.

“Star Vegas recorded stabilized property-level EBITDA and net revenue figures. A higher-than-usual VIP Win Rate impacted Star Vegas; however, our turnaround strategy minimized operating expenses through a period of stronger visitation.

“Meanwhile, Aristo reported high visitation levels in line with the March Quarter and an increase in net revenue over the period. A minor surge in operating expenses impacted Aristo and, unfortunately, affected the operation’s property-level EBITDA. However, we are confident in Aristo’s long-term potential, in light of the opening of the new Sapa airport in 2025.”

RelatedPosts

Industry lawyer: All hope not lost for Thailand’s deflated casino bill

Industry lawyer: All hope not lost for Thailand’s deflated casino bill

Thu 18 Sep 2025 at 20:04
Philippines senator calls for PAGCOR to split in two on conflict of interest concerns

Senate hearing into online gambling sector on hold as flood control scandal reveals almost US$17 million in embezzled funds lost in Philippines casinos

Thu 11 Sep 2025 at 06:43
Bhumjaithai Party leader and anti-casino voice Anutin Charnvirakul voted in as Thailand’s new Prime Minister

Bhumjaithai Party leader and anti-casino voice Anutin Charnvirakul voted in as Thailand’s new Prime Minister

Sun 7 Sep 2025 at 10:30
Survey finds Thai locals mostly worried that legal casinos will increase problem gambling, crime and conflict

Chinese visitation, air capacity to Thailand are continuing to fall in 3Q25

Mon 1 Sep 2025 at 13:52
Load More
Tags: Aristo international hotelCambodiacasinosStar VegasThailand
Share7Share1
Newsdesk

Newsdesk

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.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Evolution Asia
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

ARIA executive Ayesha Molino to replace Corey Sanders as MGM Resorts COO

ARIA executive Ayesha Molino to replace Corey Sanders as MGM Resorts COO

by Newsdesk
Fri 19 Sep 2025 at 06:06

MGM Resorts International has appointed ARIA COO Ayesha Molino as its new Chief Operating Officer effective 1 January 2026, replacing the outgoing Corey Sanders. Gary Fritz, currently President of MGM Resorts International Interactive, will take on the role of Chief...

Philippines casino GGR up 630% quarter-on-quarter in 3Q20

Philippines remote gaming industry heading towards period of heavy consolidation

by Ben Blaschke
Fri 19 Sep 2025 at 01:26

The recent surge in Philippine online gaming licensees is likely to enter a period of contraction in the near future, with barely a third of those currently operational generating sufficient revenue to justify their existence. Tonet Quiogue, Partner and Head...

1xBet and Paris Saint-Germain extend partnership for three more seasons

1xBet and Paris Saint-Germain extend partnership for three more seasons

by Newsdesk
Thu 18 Sep 2025 at 22:18

Global betting company 1xBet has extended its partnership with Champions League champs Paris Saint-Germain, retaining its status as the club’s official partner for the next three seasons. The renewal was confirmed during the final day of the 2025 SBC Summit...

Industry lawyer: All hope not lost for Thailand’s deflated casino bill

Industry lawyer: All hope not lost for Thailand’s deflated casino bill

by Ben Blaschke
Thu 18 Sep 2025 at 20:04

Thailand’s controversial Entertainment Complex Bill may be dead in the water, but there remains some hope that it could yet be revived – possibly as soon as early 2026 – according to prominent industry lawyer Lau Kok Keng, Partner and...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English