Temporary Closure of DNA Star Vegas Casino Operations
Sydney, Mar 31, 2020 AEST (ABN Newswire) - Donaco International Limited (
ASX:DNA) (UGS:FRA) today announces the temporary closure of the casino operations of its largest business, the DNA Star Vegas Casino in Poipet, Cambodia, following the Cambodia Government's announcement mandating the temporary closure of all casinos from 11.59pm on 1 April 2020.
The closure of the casino operations will have a material impact on DNA Star Vegas Casino's business. Donaco will continue to monitor developments in the COVID-19 situation and is focused on implementing mitigation strategies to minimise impacts to staff and to conserve liquidity.
At this time, the board is unable to advise the impacts on financial performance due to the uncertainty related to the duration of the mandated closure, however, will provide further updates in due course. The Company remains in ongoing discussions with principal lender Megabank.
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.
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