Operator News
Cambodia – Donaco bringing an extra 100 tables to Star Vegas
By Phil - 25 July 2017
Donaco is bringing an extra 100 gaming tables to its Cambodian casino Star Vegas in the next few months filling virtually all of the available capacity at its Poipet casino.
The company is currently renegotiating its Star Vegas VIP junket arrangements with former junket operators being replaced by new operators.
A spokesperson said: “Following an agreement with Vivo Tower Limited announced on 16 June 2017, Donaco is pleased to announce that good progress has been made in marketing the Star Vegas property to a new group of international customers. The international expansion will make use of the currently unutilised space at the property, and represents a new source of incremental revenue in FY17 and beyond. Vivo Tower has signed a number of deals with international junkets, and expects to add approximately 100 gaming tables to the property over the next few months. This will add to the 140 tables that Star Vegas already has available for Thai players, and will fill almost all of the available empty space at the property.”
But with both of its operating venues, the Star Vegas and the Aristo International Hotel, both performing in line with earnings guidance, the time to expand is now. Based on unaudited management accounts, the Star Vegas business has recorded EBITDA of US$61m for FY17. The Aristo has also performed strongly during FY17, benefiting from strategic initiatives implemented to enhance mass market visitation at the venue, and cost control measures. Unaudited EBITDA for FY17 was US$10.8m, an increase of 38 per cent on last year.
Donaco is completing the transition to full management control of Star Vegas, as the management contract with the former Thai vendor ended on 30 June 2017. Key management roles have already been filled, or are in the process of being filled, utilising the Group’s extensive experience in managing Asian casino operations. New appointments are being made to replace a number of staff that departed with previous management. This process includes the relocation of several highly performing Aristo staff members to the Star Vegas.
To mark the transition to new management, a successful VIP launch event was held at Star Vegas on 1 July 2017, followed by a successful international poker tournament.
It was attended by the Manchester United Class of ’92 players. This legendary group of players includes Ryan Giggs, Paul Scholes, Nicky Butt, Philip Neville, and Gary Neville. The Class of ’92 kicked off the South-East Asia leg of the Asian Poker Tour, a week-long poker tournament organised in conjunction with Donaco’s partner, Poker King Club. The launch event led to very high casino visitation with over 9,000 players visiting in one day and high levels of gaming turnover, with a strong win rate.
