Poppet’s star Vegas with minimal operations

Donaco International, the boutique operator of Australia-listed casinos in the Indochina Peninsula, has announced the closure of “most” of its Star Vegas hotels (pictured in file photo). The property is located near Cambodia’s Poipet border and in Thailand.

Donaco’s announcement on Tuesday did not elaborate on the impact of the move on Star Vegas’ game operations.

“Star Vegas will continue to operate at a minimal level, with continued modifications every day,” Donaco said in a filing with the Australian Stock Exchange.

The company described its decision to scale back its operations in Star Vegas following an announcement by Thai authorities on Monday, saying the border from Thailand to Cambodia via Poipet had been closed for 14 days and was likely to reopen on April 5. The aim was to control the further spread of the COVID-19 virus in Thailand.

Thailand is Star Vegas’ main customer supply market.

Donaco said Star Vegas welcomed a total of 53,463 athletes in the first 22 days of March, averaging about 2,430 a day. That figure is down 15% compared with the same period in February.

However, rolling chip turnover in the first 22 days of March was up about 9% compared to the same period in February. That increase was up from 1.42 billion THBs ($43.3 million) to 1.55 billion THBs, Donaco said.

The company said: “In response to the economic slowdown, Star Vegas executives took unpaid leave for many employees in March and April, reduced total staffing, and postponed various capital expenditure projects.”

Donaco also briefly discussed the business performance submitted on Tuesday at the Aristo International Hotel and related casinos near the border between Vietnam and China.

“Vietnam’s Aristotel has declined in number, but management is scrutinizing this to ensure all non-essential staff and spending are put on hold until further notice,” it said.

Donaco had already announced layoffs and unpaid leave for Aristotel employees in February due to the negative impact of the novel coronavirus.

Donaco Chairman Mel Ashton was quoted as saying in a filing on Tuesday that Donaco’s board and management were “closely monitoring” the overall impact of the COVID-19 pandemic on its business.

He added: “We are taking precautions to ensure a safe operating environment as well as controlling spending.”

Donaco said last month it was looking for financing to support the company’s payment obligations and working capital needs after its business was negatively impacted by the COVID-19 virus outbreak.

Donaco reported a net loss after tax of A$1.5 million ($985,000) for the six months ended Dec. 31, compared with a net loss after tax of A$36.8 million a year earlier.

BY: 슬롯사이트 순위

Leave a Reply

Your email address will not be published. Required fields are marked *