Published
Financial

Donaco sees Q2 revenue fall 96% year-on-year

Donaco International revenue for Q2 dropped to AU$0.9m ($642,000), compared to AU$20.3m the previous year.

slotmachines

Rolling Chip VIP Turnover stood at AU$50.7m, compared to AU$1.7bn in 2019. Property level EBITDA was AU$1.7m, a great drop from last year's figure of AU$7.6m. Group EBITDA stood at negative AU$3.0m, compared to AU$4.8m the previous year.

Operating expenses for the quarter were AU$2.6m, against AU$12.7m the previous year with Q2 being influenced by the global pandemic. 

DNA Star Vegas has been closed since April 1, 2020, and still hasn't resumed operations. While the casino remains closed, “management has implemented tight control measures with an average monthly cash burn rate of approximately” $300,000, for payroll and utilities. Net revenue for the casino came from non-core business and was $0.2m, compared to $9m last year. 

Aristo International Hotel resumed operations on May 8, but VIP rolling turnover dropped to $34.0m from $417.4m, a 92% fall due to a decline in visitations. Net revenue was $0.4m, a 93% drop from $5.5m in 2019. The casino reduced operating expenses to $0.6m from $2.1m last year. 

The company raised AU$14.41m of capital to “provide immediate capital relief and stabilisation of the business.” 

The company announced board changes as well. Paul Arbuckle will be stepping down as a CEO on August 4, with the CEO recruitment process is still ongoing. 

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Soft2Bet
Scientific Games
Digitain Malta
Follow Us

Facing Facts: Q3 2024 analysis

Gambling Insider takes a look at the Q3 results of operators...

Taking stock: The final count of 2024

Gambling Insider tracks operator and supplier prices of some...

CEO Special: Flutter CEO Peter Jackson – Playing to win

As the biggest publicly traded operator in gambling meets th...

CEO Special: Holland Casino CEO Petra de Ruiter – High flier

Petra de Ruiter, Holland Casino CEO, speaks to Gambling Insi...

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the event manager

A message from the Event Manager of the Global Gaming Awards...

From the Awards adjudicator

KPMG in the Crown Dependencies is the official voting adjudi...

The process

The Global Gaming Awards have deservingly earned the reputat...