Heng Sheng now in operation
VIP rolling chip turnover at Star Vegas Resort and Club in Poipet, Cambodia was up 43 percent year-on-year to approximately AUD1.30 billion (US$941.7 million) in the first quarter of its fiscal year, reported GGRAsia. The resort is owned by Donaco International Ltd., which bought the property in July for US$360 million.
“Trading in that period was pleasing, and the business is on track,” the company said in a filing to the Australian Securities Exchange. The spike occurred “despite postponement of marketing activities” including a baccarat tournament for VIPs, which was delayed until late October. “This was due to management focus on launch of the Heng Sheng VIP gaming room,” the company said in the filing.
In August, Donaco reached a deal with the junket promoter to launch operations at the Star Vegas and bring in high rollers from Thailand, where casinos are still illegal, and elsewhere.
Results were not so positive in the company’s Aristo International Hotel, a casino resort in northern Vietnam, near the Chinese border. In the first quarter, VIP rolling chip turnover was flat year-on-year at approximately AUD442.9 million.