In welcome news for Cambodian casino operators, the border between Cambodia and Thailand were expected to reopen in February. The removal of travel restrictions should support a rebound in business at the Star Vegas casino in Poipet. Star Vegas and other casinos in the Cambodian town draw heavily from Thailand, where gambling is illegal. Star Vegas, owned by Australian-listed operator Donaco, has been closed since April last year.
Prior to the pandemic in 2019, Cambodia welcomed more than 460,000 Thai tourists, up 20 percent from the prior year. Thailand was the third largest feeder market for Cambodian tourism, after Vietnam and China.
According to Asia Gaming Brief, Donaco Chair Porntat Amatavivadhana said the company is expecting a brighter future as border restrictions are lifted. In an annual address to shareholders, he said he is “optimistic” about Donaco’s future.
Donaco also operates the Aristo in northern Vietnam, which is currently operating under Covid restrictions. The company reported that in the first three months of the 2022 fiscal year, Aristo had returned to profit, posting positive EBITDA of A$0.3 million.
The Vietnamese government has also approved the construction of Sapa airport in Lao Cai, near the Aristo. Its capacity of 1.5 million passengers a year “presents a major opportunity for our Aristo casino to attract a significant number of new customers,” said Amatavivadhana. “These increasingly positive macroeconomic factors combined with our strengthened balance sheet and cost efficient operations have placed us in a great position to achieve sustainable long-term growth as life and travel patterns gradually return to normal.”
