Donaco International has described its quarterly results for the period ending June 30, 2024 as representing “stabilised earnings” after an unusually high VIP rate at the DNA Star Vegas operation in the previous quarter.
Net revenue was AU$10.81m against the previous quarter’s $12.66m, and EBITDA was $6.34m against the previous quarter’s $8.39m. Over the past 12 months, overall group performance has grown steadily, with a 164 per cent increase in EBITDA year-on-year.
“Donaco has consistently reported robust financial and visitation numbers following stable quarters across our operations,” said Donaco’s non-executive chairman, Porntat Amatavivadhana.
“In the period we’ve stabilised our operations and focus on providing a high-quality experience to our customers. This is evidenced by the improving average daily visitation across both Star Vegas and Aristo.
“Star Vegas recorded stabilised property-level EBITDA and net revenue figures. A higher-than-usual VIP Win Rate impacted Star Vegas; however, our turnaround strategy minimised operating expenses through a period of stronger visitation.
“Meanwhile, Aristo reported high visitation levels in line with the March Quarter and an increase in net revenue over the period. A minor surge in operating expenses impacted Aristo and, unfortunately, affected the operation's property-level EBITDA. However, we are confident in Aristo’s long-term potential, in light of the opening of the new Sapa airport in 2025.”
