Donaco announces repayment of $ 100 million loan to Mega Bank
Donaco International Ltd, operator of several border casinos in Southeast Asia, said it has settled a US $ 100 million loan facility with its main lender Mega International Commercial Bank Co Ltd. âThe loan facility was settled on December 30, 2021 as per schedule,â the casino company said in a filing on Wednesday with the Australian Securities Exchange.
“Donaco is pleased to confirm that there is no longer an outstanding loan balance at its lender Mega Bank,” he said.
In July, Donaco said he had got approval of Mega Bank to reschedule the repayment of the outstanding amount it had at the institution, the repayment being made in six monthly installments between June and December.
âThe last installment of $ 1.8 million was paid in December 2021,â the company said.
Donaco said he “continues to preserve a strong balance sheet” and “maintain careful cost control” until the Covid-19 pandemic “improves in Vietnam and Cambodia”.
Star Vegas Resort and Club (pictured in a file photo), Donaco’s flagship casino in Poipet, on Cambodia’s border with Thailand, has been closed since April, due to the Covid-19 pandemic. Donaco said he had reduces operating expenses of this one-third property during the three months preceding September 30, compared to the quarter of the previous year.
The gaming company also operates the Aristo International Hotel, a casino hotel in Lao Cai, on Vietnam’s border with China.