Australian-listed casino operator Donaco International confirmed in a filing on Tuesday that its casino at Star Vegas Resort and Club in Poipet, Cambodia, (pictured) will be closed “temporarily” under a Cambodian government order that applies to all facilities in Cambodia, which will take effect on Wednesday (April 1) at 11:59 p.m.
“The closure of casino operations will have a significant impact on the business of Donaco Star Vegas Casino,” the company said in a statement to the Australian Stock Exchange.
In terms of finance, the company added, “the focus is on implementing mitigation strategies to minimize the impact on employees and preserve liquidity.”
Cambodia’s government said in an announcement on Monday that shutting down the country’s casino industry was aimed at preventing the spread of the novel coronavirus, which causes COVID-19 infections, in the country.
“At this time, the board is unable to advise on the impact on financial performance due to uncertainties related to the mandatory closure period, but will provide further updates in due course,” Donaco said in a filing on Tuesday
“The company is still in ongoing discussions with Megabank, a major lender,” it added
Donaco said in a filing on Friday that it was seeking consent from Mega International Commercial Bank Ltd to allow Donaco to fulfill part of the settlement agreement it had agreed with Star Vegas’ original Thai supplier.
Donaco announced last week that it was closing “most” of its Star Vegas casino properties.
The company said the border from Thailand to Cambodia via Poipet was closed for 14 days at the time and explained that it was following an announcement by Thai authorities to scale back operations in Star Vegas. It was to control further spread of COVID-19 infections in Thailand.
Donaco also operates the Aristo International Hotel and related casinos in Lao Cai, on the border between Vietnam and China.
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