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.”
In full: https://www.ggrasia.com/donaco-says-star-vegas-deal-deferred-pending-mega-bank-ok/
