Casino operator Donaco International reported a 41.0% drop in group quarterly earnings before interest, taxation, depreciation and amortization in the three months to June 30, compared with the previous quarter.
GROUP EBITDA IN THE LATEST REPORTING PERIOD WAS A$2.4 MILLION ($1.61 million) VS A$4.07 MILLION IN THE THREE TIMES ended March 31.
Donaco’s group net income fell 8.9% quarter-on-quarter to A$7.55 million.
The company said its latest results were affected by a VIP gambling win rate unfavorable to the home at DNA Star Vegas Real Estate (pictured) in Poipet, Cambodia, on the border with Thailand. The complex has historically been a major source of revenue for the group.
These quarterly VIP wins were -1.06% compared to 4.09% in the previous quarter.
In the June quarter, DNA Star Vegas’ rolling chip trading volume nearly doubled sequentially to A$19.46 million compared to A$1.002 million in the three months to March 31.
“Star Vegas’ EBITDA results were impacted by abnormal VIP win rates and non-recurring audit adjustments,” Donaco said in a filing with the Australian Stock Exchange on Monday
The company added: “Along with our renewed focus on maximizing operational efficiency going forward, Donaco has come to expect stronger revenue margins in the coming quarters.”
The company also operates the Aristo International Hotel in Laoqai, Vietnam, on the border with mainland China.
In fact, Aristo’s real estate EBITDA rose 125.9% to A$1.31 million for the quarter ended June 30. Aristo’s net income for the reporting quarter rose 99.2% quarter-on-quarter to A$2.51 million.
Aristo’s VIP rolling chip turnover was A$322.96 million, up 266.0% quarter-on-quarter. Nevertheless, the property’s VIP win rate fell to 1.66% during the latest reporting period, down from 2.99% in the March quarter.
“During the June quarter, Donaco’s core focus was on advancing Aristotel’s gradual and systematic reopening to full operational capacity,” the company said.
“Donaco began this reopening strategy in the March quarter of 2023 after China, home to a majority of Aristotelian sponsors, announced a full reopening of its borders with Vietnam in January of this year.”
The company said these reopenings are “on track to reach full operational capacity this quarter.”
Donaco’s non-executive chairman, Fornat Amatavivadana, was quoted as saying in his prepared remarks that “the June quarter marked an important step for Donaco as we return to full-fledged operations.”
He added: “Gladly, the outlook for our business remains promising.
BY: 에볼루션 바카라사이트