Donaco International Limited (Donaco or Company) announces its results for the financial year ended 30 June 2024 (FY24).
Donaco recorded strong growth in FY24 with net revenue of A$39.53 million, a 62% increase from the previous financial year (FY23: A$24.33m). Group EBITDA of A$22.20 million was recorded for FY24, more than doubling the prior year’s result (FY23: A$9.61m).
DNA Star Vegas (Star Vegas) in Cambodia and Aristo International Hotel (Aristo) in Vietnam experienced significant growth over the past twelve months following prudent financial management. Star Vegas delivered net revenue of A$25.67 million (FY23: A$19.92m) and EBITDA of A$16.67 million (FY23: A$10.82m). Star Vegas recorded a substantial uplift in non-gaming revenue; while average daily visitation remained stable compared to the prior year.
Aristo, situated next to the Chinese border in Vietnam, saw exponential growth over FY24, recording revenue of A$13.86 million (FY23: A$4.40m) and EBITDA of A$8.44 million, a significant increase from the previous year’s A$1.53 million figure.
Cash and cash equivalents increased to A$29.30 million from the prior year’s A$16.72 million as a result of robust financial management.
Donaco’s Non-Executive Chairman, Mr Porntat Amatavivadhana, commented:
“FY24 was a period of solid growth and financial performance for Donaco, as the Company continued to streamline its operations and attract more visitors. The success of local government initiatives aimed at boosting international tourism greatly benefitted our performance, leading to notable increases in visitation and gaming turnover, with Aristo significantly surpassing last year’s results.
While we are very pleased by the latest results and remain committed to executing our strategy, we are currently evaluating potential disruptors such as the proposed Integrated Entertainment Business Act in Thailand and the separate Aristo tax audit, as we navigate Southeast Asia's evolving gaming landscape.”
