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Donaco awaits government inspection before Star Vegas reopens

  • bscnews casinosite

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Donaco awaits government inspection before Star Vegas reopens by bscnews casinosite
Australian-listed casino operator Donaco International confirmed in a filing on Wednesday that it had not yet received Cambodian government inspections of Poipet's Star Vegas Resort and Club (file photo) needed to reopen after a temporary shutdown from April 1 due to COVID-19 measures.

"The Department of Health is yet to confirm when it will visit Donaco's Star Vegas resorts and clubs to evaluate the approval, but Donaco expects to visit in the coming weeks," Donaco told the Australian Stock Exchange.

The company said it would provide an update to the Australian Stock Exchange "on completion of the Department of Health inspections."

It has been nearly a month since Cambodian Prime Minister Hun Sen said he would allow casinos across the country to reopen once they meet health requirements to prevent the outbreak of COVID-19 at their business sites.

However, Donaco said in its announcement that Thailand, which neighbors Cambodia at the Poipet border, had extended its COVID-19 response measures until Aug. 31.

"With the majority of Star Vegas visitors coming from Thailand, Donaco expects patronage numbers to remain low in Star Vegas until the Thai-Cambodian border reopens," the company said.

In early April, when Star Vegas and Donaco's other Asian casino hotel, Aristo International in Lao Cai, on the border with China, closed, Donaco said it expected a "cash consumption rate" of between $800,000 and $900,000 per month. Aristo International resumed casino operations in mid-May.

In Cambodia's capital Phnom Penh, exclusive operator Nagakov Inc. reopened VIP table operations and slot machine businesses at its lodging Nagaworld on July 8.

On July 19, Nagakov said in a filing with the Hong Kong Stock Exchange that it could reopen "all casino businesses," including large market game tables. 카지노사이트

The COVID-19 situation will "continue to improve in areas where Star Vegas operates," Donaco said on Wednesday, adding that the Cambodian government's permission to reopen casinos with safety devices and inspections was a "positive step towards the resumption of normal operations."

Donako added that she is "committed" to COVID-19 prevention measures "to ensure the safety and well-being of our staff, visitors and wider Cambodian community."

The casino operator recently completed a share exercise to raise A$14.4 million ($10.3 million), with proceeds used for "redemption requirements" under the debt facility and used as the group's working capital.

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bscnews casinosite
Business Development Manager at Lake Austin Spa Resort