Donaco Returned To Positive Ebitda Due To Reducing The Effect Of Covid-19
Donaco reported that for the pereiod october-november 2020, the company demonstrated positive ebitda. The company retains the hope of saving the trend in december 2020.
Since the opening at the end of september, star vegas resort and club (star vegas) in cambodia and aristo international (aristo) in vietnam, donaco announces a two-month positive ebitda (unaudited) for october and november – 0.54 million us dollars and $ 0.8 million, respectively – for the whole group. The continued indember the growth continued inspired by the fact that is limited re-opening of star vegas will no longer incur no losess.
The main growth engines are strategic initititives implemented by the new council and the exective team toam toamter the consequences of the covid-19 pandemic, along with the ongoing expense control strategy. Strategic initiatives include new emphasis on attracting clients from the local region to star vegas to, in turn, reduce the company’s expenses to international personnel and provide a solid growth platform. A gradual weakening of the regions in which the company works, together with the initiatives improved the position of the business. Casino, which still work in a limited mode, are ready to resume work in full as the situation improves. Donaco strategy for 2021 will be based on separate initiatives supported by improved balance strategy and cost control.
Donaco is also negotiating with mega bank to ensure the successful completion of all litigation with the thai side of vendoras.
Donaco continues to repay his duty to mega bank, which as of december 11, 2020 decreased by 5 million us dollars. Immorted debt in the amount of us $ 7.8 million is a significant reduction in comparison with the initially borrowed amount of $ 100 million, and the company experts to pay off the remaining debt in 2021 fiscal year. The company also actively studies alternative access to the game sector.
Source: asx donaco release