Now under new ownership
The Star Vegas Resort and Club, a Cambodian border casino that serves mostly Thai players, saw a 69 percent year-on-year spike in rolling chip turnover for the year that ended June 30. According to GGRAsia, total net revenue was up 17 percent to almost $76.8 million from just over $65.7 million a year earlier.
The figures were reported to the Australian Securities Exchange by the property’s new owner, Donaco International Ltd. Donaco closed on the acquisition of the Poipet property on July 1, paying $360 million.
VIP revenue at the Star was up 54 percent to $103.7 million from $67.6 million. Gross revenue from main hall table games rose 18 percent to nearly $19.2 million from $16.3 million. Table game net increased 21 percent, to $41.9 million from $34.6 million in fiscal 2014. Net revenues from slots also rose, jumping 11 percent to $32.2 million from $29.1 million in the previous year; that gain was attributable in part to the addition of 185 new slot machines to the casino floor. “The new slot machines are expected to contribute more strongly in future periods, as customers become familiar with them,” said Donaco in the filing.
Non-gaming revenue also saw a healthy increase of 34 percent, for a total of $2.7 million over $2.0 million during the same period in 2014.
Donaco gave credit for a new marketing campaign that drew more VIP players; improvements in the road network linking Poipet with the Thai capital Bangkok, and “efforts by the Thai government to crack down on illegal gambling in the Bangkok area,” reported GGRAsia.
