Donaco Release 2021 Q1 Results With A Net Revenue Of $2m

Donaco International Limited posted AU$2.77 million (US$2.14 million) in net sales for the three months ended March 31, 2021, compared to AU$10.79 million in the same timeframe in 2020. It also represents a decrease from the AU$6.00 million posted in the December quarter of 2020.

In Q1 2021, rolling chip turnover was AU$78.68 million, compared to AU$445.87 million the previous year. Operating expenses were AU$1.70 million, while property EBITDA was AU$1.08 million and company EBITDA was AU$0.29 million, up from a negative AU$1.14 million in Q1 2020.

Star Vegas had a rolling chip VIP turnover of AU$69.28 million and net sales of AU$2.51 million in the first quarter of 2021. Operating expenses for the year were AU$1.31 million, down from AU$7.61 million in 2020.

Since reopening in May 2020, the Aristo company in Vietnam has been running on a small basis, with rolling chip VIP turnover of AU$9.40 million and net sales of AU$0.26 million.

Challenging period

Non-executive Chairman Porntat Amatavivadhana said: “The March quarter was a challenging period due to the Covid-19 pandemic with the outbreak in January leading to a more severe outbreak in April.

“Nonetheless, we have continued to focus on what we can control, our internal operations and protecting our balance sheet. We have done everything to manage what had to be managed internally within the business.

“Encouragingly, we are also on track to repay all remaining debt with Mega Bank by this coming 30 June, and we continue to explore additional opportunities to access the gaming market.”

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About Joe Kizlauskas

Joe is a seasoned iGaming copywriter and speaker who has been in the business since 2015. He's written more words on all elements of iGaming than he likes to remember, and he's contributed material to a number of well-known brands. Joe may be seen playing 5 a side, at the gym or playing games on his Playstation when he is not writing.