Bought Star in 2015
Donaco International Ltd. reported impressive results for the fiscal year that ended June 30, according to the Asia Gaming Brief. The casino operator posted net profits of AUD77.2 million (US$58.2 million) after losing AUD5.2 million in fiscal 2015.
The most recent year was also the first full year to include revenue for Star Vegas Resort and Club, which the company acquired in January 2015 for US$360 million. That sent overall revenue to AUD143.4 million in 2016, up from AUD20.4 million in 2015.
“We are pleased to have delivered a strong operational result from both of our gaming assets, with a major part of our earnings this year coming from Star Vegas, which contributed AUD120 million in revenue and AUD87 million in underlying EBITDA,” said Donaco Managing Director Joey Lim Keong Yew.
Donaco expressed confidence that Star Vegas will benefit from new markets and VIP gaming growth in the year to come.
