Southeast Asian casino operator Donaco International Ltd has reported a near 10-fold increase in revenues for the year ended 30 June 2023 of AU$24.33 million, up from just AU$2.4 million a year earlier thanks to the full reopening of its Cambodian and Vietnam casinos.
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The company also returned to an EBITDA profit of AU$9.61 million versus a FY22 loss of AU$4.4 million, although it reported a statutory net loss of AU$36.7 million after recognizing a non-cash asset impairment charge of AU$22.2 million at Aristo Hotel in Vietnam and AU$4.5 million at Star Vegas in Poipet, Cambodia due to COVID-19 and a “higher interest rates environment”.
Star Vegas, which reopened in June 2022, saw its revenues reach AU$19.9 million, up from just AU$900,000 a year earlier, with Adjusted EBITDA of AU$10.82 million.
