Donaco International is a casino operator based in Australia that is set to acquire the Star Vegas Resort and Club which is located in Poipet, Cambodia. The company is set to close on the property by July 1st. Donaco currently operates the Aristo International Hotel which is located in the northern portion of Vietnam and offers a casino experience.
The acquisition of the Star Vegas Resort by Donaco was announced on January 30th and believe the deal will diversify the company into the Thai market. The casino attracts a large group of travelers who visit Thailand. The Donaco chairman of the board, Stuart McGregor, commented on the acquisition by stating: “It will also provide valuable diversification for the company, with the Star Vegas focusing on the Thailand market, while the Aristo services the China market”.
Donaco will spend $360 million on the acquisition with $101 million already raised via shareholders. Mega International Commercial Bank will provide a $100 million loan. The Star Vegas Resort currently offers a casino and hotel space, including 109 gaming tables, over 1,200 slot machines and close to 400 hotel rooms. Additional building space is located on the property that Donaco will be using to expand in the future if there is a demand.