Australian casino operators Donaco International’s unlucky hand has continued with the resignation of its chief executive on Thursday, following the departure of more than half its board last week.
The ASX-listed group operates casinos in border towns in Cambodia and northern Vietnam which cater to gamblers from Thailand and China, two countries which have outlawed casinos. It has been in turmoil for more than two years amid a bitter dispute between a major shareholder and business partner at its Cambodian venture.
Donaco’s shares have fallen from 58¢ in mid 2017 to 8¢ last Friday, before they were suspended from trade. Its market value sits at $71 million, compared to $682 million four years ago.
In full: https://www.theage.com.au/business/companies/casino-group-ceo-resigns-in-wake-of-boardroom-wipe-out-20191205-p53h7m.html