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Vietnam – Aristo International’s attendance slashed by 75 per cent due to Coronavirus clampdown

By - 18 February 2020

Australian-listed Donaco International Limited has confirmed its Vietnam casino Aristo International Hotel, located at the border with Yunnan Province in China, has been heavily impacted by the Coronavirus with attendance falling by 75 per cent in February.

The border crossing at Lao Cai is currently tightly restricted, with crossing allowed only for visitors with an “urgent” or “official” business reason. This has led to a substantial reduction in players visiting the Aristo casino hall, and consequent reduction in gaming turnover.

The Board stated: “The virus has had a specific impact on Donaco’s business operation at the Aristo International Hotel in Lao Cai, Vietnam, which borders
Yunnan Province, China. For the first 11 days of February 2020, total casino visitation was 1,374 players, averaging approximately 125 players per day. This is a decline of 75 per cent from the first 11 days of January 2020, when casino visitation was 5,510 players, averaging approximately 501 players per day.

“Rolling chip turnover in the first 11 days of February declined by 82 per cent, compared to the first 11 days of January 2020. The decline was from RMB317 million to RMB58m,” it added. “Currently there is no time frame on the partial closure of the border crossing, which is likely to depend on the success of the broader efforts being undertaken within China and around the world to contain the virus. In response to the slowdown in the business, Aristo management have arranged unpaid leave for many staff members in February, and have also reduced total headcount, as well as deferring various capital expenditure projects.

“In relation to the company’s largest business, the Donaco Star Vegas casino in Poipet, Cambodia, there is no direct impact noticed as yet from the coronavirus. The border crossing from Thailand into Poipet remains open as usual. In the longer term, if efforts to contain the virus are unsuccessful, there is likely to be an impact on the Thai economy generally, which has a strong tourism element. This may lead to an overall reduction in demand from Thai visitors to the Poipet casino.”

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