Donaco confirms US$10mln capital via entitlement offer

Australia-listed casino operator Donaco International Ltd says it has successfully completed a share exercise it flagged earlier this month, and is raising AUD14.4 million – about US$10.3 million at current exchange rates – before costs.

The proceeds of the exercise, known as an entitlement offer, “will be used to meet the upcoming repayment requirements” under a debt facility with Mega International Commercial Bank Co Ltd, also known as Mega Bank.

Some of the funds harnessed will separately be used as “working capital” in relation to two casino complexes that Donaco runs: Star Vegas Resort and Club, in Poipet, on Cambodia’s border with Thailand; and Aristo International Hotel at Lao Cai, on Vietnam’s border with China.

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