Friday, March 31, 2023

Tag: donaco

Donaco fights back over Cambodian vendor disputes

Poipet, Cambodia
The vendors who own the area of Poipet on which Donaco International Ltd’s Star Vegas resort holds a 50-year lease have commenced arbitration proceedings against the company. The three Cambodian nationals filed the complaint in order to overturn a June injunction pre- venting the threat of ceasing the leasehold enforced by the Banteay Meanchey Court of First Instance. “Donaco is confident...

Asia Round-Up: Donaco wins casino lease case; Grand Korea Leisure sees strong May results

In Cambodia, a court has prevented Donaco’s former partners in Star Vegas from terminating the casino’s 50-year land lease. In a filing to the Australian Securities Exchange, Donaco stated that the Banteay Meanchey Court of First Instance had granted an injunction preventing, Lee Hoe Property Co -owned by shareholders Somboon Sukcharoenkraisri, Techatut Sukcharoenkraisri and Bhuvasith Chaiarunrojh - from ending the...

Cambodia chasing the dragon: Government looks to boost Chinese investment and draw tourism into the fold

Cambodia’s casino industry looks likely to reap the benefits of increasing ties with China, as the government gets set to roll out legislative reforms aiming to attract further foreign investment in the gambling sector. In more ways than one, Chinese money keeps rolling into Cambodia’s gaming mar- ket, as the government hopes that new legislation will only add fuel to...

Star Vegas rebuilds revenue after Donaco International fends off competition

Donaco International has reported its Star Vegas venture in Cambodia “continues to rebuild” with a 30 percent rise in visitors, an average of 4,462 daily, across the first quarter of 2017. The casino had suffered competition from the neighbouring Star Paradise venue, run by Star Vegas’ previous owners despite a non-compete agreement, which saw Donaco recently file for $120m in...

Donaco pushes back launch of Cambodian online venture

cambodia donaco
  Australian-listed casino operator Donaco International has stated that it has again delayed the launch of its online gambling operations in Cambodia.   Speaking during the company’s AGM in Sydney, Donaco’s MD Joey Lim revealed that “the initial launch of our online gaming business has been slightly delayed, and is now also expected in December.” It has been over a year since Donaco...

Donaco looks to expand land-based and online gaming operations

Joey Lim Keong Yew donaco
  Australian-listed Donaco International is planning to expand both its land-based and online gaming operations.   Speaking to local media, Donaco CEO Joey Lim Keong Yew stated that his company hopes to move beyond its current casino foothold in Cambodia and Vietnam into other Asia-Pacific markets, including Macau, South Korea, the Philippines and Japan, within the next five years. Lim stated that this...