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.
