Asia Gaming Brief reports that in its filing to the Australian Securities Exchange (ASX) on Monday, the casino operator said, “The international expansion will make use of the currently underutilized space at the property, and represents a new source of incremental revenue in FY17 and beyond.”
Donaco, which recently inked deals with several international junkets, further noted in the securities filing that it was making ‘good progress’ in its effort to market the property in Poipet to a new group of international VPs, as reported by the news agency.
The casino operator also reportedly said that as part of the company’s transition to full management control of the property, that terms and conditions are currently being negotiated for its Tahi junket business, replacing former junket operators with new ones.
“During this transition period, Donaco anticipates that earnings from the VIP portion of the Star Vegas business in the first quarter of FY18 will be lower than the corresponding months last year,” Donaco said in Monday’s filing.
In May, Donaco announced that it had signed a three-year-deal with the owner of Poker King Club (PKC), Kings Consulting Limited, to host international poker tournaments at its flagship Star Vegas. The same month, the company said that for FY17 at Star Vegas, it expects to record EBITDA of $61 million.