Casino operator Donaco International says its Cambodian casino is firing on all cylinders while its Vietnamese property continues to battle overly lucky VIPs.
The Australian-listed Donaco’s financial year ended June 30 but the company filed papers on Monday with the Australian Securities Exchange that offered insights into its performance in the “September quarter,” aka the three months ending Sept. 30.
Donaco says business at its new Star Vegas Resort and Club in Poipet, Cambodia was “pleasing, and the business is on track.” Donaco officially took control of Star Vegas in July after striking a deal this January to purchase the casino – considered the swankiest of Poipet’s nine gaming venues – for $360m.
Donaco said Star Vegas’ VIP table game turnover came to AUD 1.3b (US $943m) during the quarter, a 43% year-on-year improvement. The gains are all the more impressive given that the three-year deal Donaco struck with the Heng Sheng Group junket operator to steer VIPs to Star Vegas didn’t take effect until the last 10 days of September, and Donaco postponed much of its marketing activity in the quarter due to management’s focus on getting the Heng Sheng room ready.