Donaco reports net revenue of $2m for Q1 2021

By Violeta Prockyte

Donaco International Limited has reported net revenue of AU$2.77m (US$2.14m) for the three-month period ending 31 March 2021, compared to AU$10.79m for the same period in 2020. It is also a drop from AU$6.00m recorded in December quarter 2020.

Rolling chip turnover for Q1 2021 was AU$78.68m, against AU$445.87m last year. Operating expenses stood at AU$1.70m, while property level EBITDA was AU$1.08m and group EBITDA was AU$0.29m, an improvement from negative AU$1.14m recorded in Q1 2020. 

For Q1 2021, Star Vegas (pictured) recorded a rolling chip VIP turnover of AU$69.28m and net revenue of AU$2.51m. Operating expenses reduced to AU$1.31m for the period, compared to AU$7.61m for the same period in 2020. 

The Aristo business in Vietnam has been operating on a limited basis since reopening in May 2020, and recorded rolling chip VIP turnover of AU$9.40m and net revenue of AU$0.26m.

“The March quarter was a challenging period due to the Covid-19 pandemic with the outbreak in January leading to a more severe outbreak in April,” said non-executive Chairman Porntat Amatavivadhana. “Nonetheless, we have continued to focus on what we can control, our internal operations and protecting our balance sheet. We have done everything to manage what had to be managed internally within the business.

“Encouragingly, we are also on track to repay all remaining debt with Mega Bank by this coming 30 June, and we continue to explore additional opportunities to access the gaming market.”

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