Donaco says Star Vegas deal deferred pending Mega Bank ok

Donaco International Ltd says payments linked to settlement of a long-running dispute with people that sold the firm Star Vegas Resort and Club (pictured), a Cambodia casino complex, are to be deferred pending approval by a key lender to Donaco, Taiwan’s Mega International Commercial Bank Co Ltd.

Mel Ashton, chairman of Donaco, a boutique Australia-listed operator of casinos in Indochina, said in a Friday filing: “We are pleased to have reached a variation with DNA Star Vegas Co and Donaco Hong Kong [Ltd] that provides more certainty around settlement while we continue to pursue the required consents from Mega Bank.”

He added: “Settlement payments will be withheld until consent from Mega Bank is received and will subsequently be offset at such time.”

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