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Donaco Extends Shut Down of its Vietnam Casino
Donaco International Limited has extended the temporary closure of its Aristo International Hotel in Lao Cai, Vietnam, for a further seven days.
“The Company believes the current COVID-19 situation poses a risk to the health and safety of staff and visitors at Aristo if operations resumed, which could have adverse long-term consequences for Donaco,” it said.
“The Company’s Star Vegas Casino operations in Poipet, Cambodia also remain temporarily closed in line with Government restrictions. The Board and Management will continue to proactively monitor developments in the rapidly changing COVID-19 situation and swiftly provide further updates in due course,” Donaco added.
Donaco recently revealed an estimated cash burn of up to US$900,000 per month while its casinos in Vietnam and Cambodia remain closed, adding it has cash reserves to survive for more than a year.
