Releasing its financial results for the quarter ending March 31, 2025, Donaco International reported “robust” visitation numbers but described the operating environment through the quarter as “challenging.”
Group net revenue dipping to AU$10.03m, down from $10.9m in the previous quarter, and from $12.66m year-on-year.
EBITDA was $4.1m, down from $5.77m in the previous quarter and $8.39m year-on-year.
“Aristo continued to perform steadily during the quarter, reporting revenue growth and stable EBITDA,” said non-executive chairman, Porntat Amatavivadhana. “We also continued to see visitation numbers grow with higher levels of tourism in the region following reduced border restrictions and government tourism campaigns.
“However, we continue to diligently monitor the Thai government's proposed draft Entertainment Complex Business Act and evaluate its potential implications for our Star Vegas operations.
“During the quarter, Donaco entered into a Scheme Implementation Deed with On Nut Road Limited for On Nut Road Limited’s proposed acquisition of the shares in Donaco that it does not already own. The board has carefully considered the merits of the scheme, and we believe On Nut Road Limited’s offer provides compelling value to Donaco shareholders, representing a 54.10 per cent premium to the 90-day volume-weighted average share price.
“The Board continues to unanimously recommend that Donaco shareholders vote in favour of the scheme at the scheme meeting in the absence of a superior proposal and subject to an independent expert concluding (and continuing to conclude) that the scheme is in the best interests of Donaco shareholders”
