Border casino operator Donaco International achieved quarterly earnings before interest, taxation, depreciation and amortisation for the first time since early 2021, its chairman said in a Friday filing with the Australian Stock Exchange.
For the three months to Sept. 30, the company's group EBITDA, which operates casinos on the Thai-Vietnam border, stood at A$1.5 million ($962,313), compared with a negative group EBITDA of A$1.04 million in the prior-year quarter.
"We are pleased that Donaco achieved its first positive EBITDA in a quarter since early 2021, and importantly, there is significant potential for further growth," said non-executive chairman Fornat Amatavidana in its results filing.
He added that the Cambodian property in Poypet, DNA Star Vegas, "had strong results soon after reopening, which is a testament to the operational strategy implemented by Donaco and that the strategy we expect will be sustainable."
DNA Star Vegas closed in April 2021 due to COVID-19 measures and only reopened in mid-June this year, according to the company's announcement.
"We are confident that we will be able to replicate this strategy in the future at Aristotel, which currently remains limitedly open," the chairman said in an update on Friday, referring to Vietnamese properties at the Lao Kai, Aristotel International Hotel
The group's quarterly net income rose nearly 500% in the three months to Sept. 30. Such quarterly net income was A$4.53 million, of which A$4.1 million came from DNA Star Vegas. In the prior-year quarter, the group's net income was A$0.76 million.
Property level EBITDA at Cambodian venues was A$2.22 million in the reporting quarter, down from a negative figure of A$6.62 million a year earlier.
The work is expected to gradually reach full capacity over the coming quarters, according to a filing on Friday.
For the recently reported quarter, DNA Star Vegas' VIP rolling chip sales were A$181.29 million, with no figures for the prior-year quarter recorded during the temporary shutdown.
The group's cash reserves were A$10.9 million as of September 30.
