Extension of Temporary Closure of Aristo Hotel Casino Ops
Sydney, April 21, 2020 AEST (ABN Newswire) - Donaco International Limited (
ASX:DNA) (UGS:FRA) confirms a 7-day extension of the temporary closure of casino operations at the Aristo International Hotel in Lao Cai, Vietnam. This followed the Vietnam Government's announcement mandating the temporary closure of all casinos, amid the ongoing COVID-19 pandemic, for a period of 15 days from 1 April 2020 (see ASX announcement dated 1 April 2020).
The Company believes the current COVID-19 situation poses a risk to the health and safety of staff and visitors at Aristo if operations resumed, which could have adverse long-term consequences for Donaco.
The Company's Star Vegas Casino operations in Poipet, Cambodia also remain temporarily closed in line with Government restrictions (see ASX announcement dated 30 March 2020).
As stated in the announcement, the closure of both casino operations will have a material impact on Donaco's business.
However, Donaco is successfully undertaking pragmatic measures to reduce costs, which will mitigate this impact to an extent.
The Board and Management will continue to proactively monitor developments in the rapidly changing COVID-19 situation and swiftly provide further updates in due course.
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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