Asian casino operator Donaco International has resolved its multi-year dispute with a former vendor at its flagship Cambodian gambling venue.
On Tuesday, the Australia-listed Donaco announced the conclusion of negotiations and settlement of its longstanding financial dispute with the so-called Thai Vendors, who can now be publicly identified as Somboon Sukcharoenkraisri, Lee Bug Tong, Lee Bug Huy, Lee Hoe Property Co Ltd, Paramax Co Ltd and related persons.
The dispute dates back to 2015, when Donaco purchased the Star Vegas casino in Poipet from the Thai vendors, but kept them on to manage gaming operations for two years. The following year, the vendors built an adjacent casino, Star Paradise, leading Donaco to accuse the vendors of violating a non-compete clause.
Then followed several seesaw years of court fights and injunctions in various jurisdictions. A month ago, Donaco announced that it had convinced the vendors to return to the negotiating table. On Tuesday, the company revealed the terms to which the parties had agreed.