Donaco International reports strong 1Q 2024 performance 

Donaco International, a casino operator in Cambodia and Vietnam, has reported a significant uptick in earnings during the first quarter of 2024. The company’s quarterly report indicates a steady increase in operational performance, with earnings nearly reaching pre-COVID levels. 

Stabilized visitation numbers 

Donaco highlights that visitation numbers have stabilized, reaching levels consistent with the previous quarter. This stabilization reflects the gradual return of tourism in Cambodia and Vietnam to pre-pandemic levels, signalling positive momentum for the company. 

Strong financial results 

The group achieved strong financial results, reporting a group net revenue of AUD12.66 million (€7.7 million) and EBITDA of AUD8.39 million (€5 million), marking a remarkable 66 percent increase over the last quarter. The quarterly report underscores the robust performance of Donaco’s key operations. 

Performance highlights 

Donaco’s DNA Star Vegas operation, situated on the Cambodia-Thailand border, recorded substantial growth, with net revenue reaching AUD8.82 million (€5.3 million) and property-level EBITDA of AUD6.63 million (€4 million). The implementation of a membership loyalty program in January 2024 contributed to the operation’s success. 

Vietnam operation growth 

Similarly, Donaco’s Vietnam operation, Aristo International Hotel (Aristo), experienced revenue and EBITDA growth driven by stabilized tourism, particularly from China. Aristo reported net revenue of AUD3.84 million (€5.3 million), reflecting a 6.4% increase from the previous quarter. 

Strong financial position 

The company maintains a strong financial position, ending the period with a robust cash position of AUD28.99 million (€17.6 million), marking a 15.4% increase from the previous quarter. Donaco emphasizes its focus on stringent financial management to support sustainable growth. 

Positive outlook 

In its quarterly report, Donaco’s Non-Executive Chairman, Porntat Amatavivadhana, expressed confidence in the company’s outlook, citing continuous improvement across all segments. Additionally, the company anticipates significant growth post-2025, with the development of the new Sapa airport in Lao Cai expected to drive a substantial increase in visitation. 

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