Donaco posts first profitable quarter in over a year on Star Vegas recovery

ASX-listed Donaco International Limited has produced its first EBITDA-positive quarter in more than a year in the three months to 30 September 2022, buoyed by the reopening of Star Vegas Resort & Club in Poipet, Cambodia.

Shuttered on 27 April 2021 and only reopening on 18 June 2022, Donaco noted in a Friday filing that while operations had recommenced on a limited scale, they progressively ramped up throughout the September quarter.

As a result, Donaco recorded revenue of AU$4.53 million (US$2.9 million) in 3Q22, up from just AU$760,000 (US$488,000) a year earlier, while EBITDA of AU$1.5 million (US$963,000) reversed an AU$1.04 million EBITDA loss in the same period last year.

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