GROSS GAMING REVENUE Naga 9-month VIP rollings $11b
Mass market buy-in $566.4m
EMG bills-in $1.31b
IMF predicts steady growth The International Monetary Fund has said the Cambodian economy is likely to grow 6.9 percent in 2017, slightly lower than the 7 percent recorded last year, fuelled by increased tourism, construction and garment exports. The IMF said it expects growth to remain robust in the next few years, though some economists have warned that renewed political uncertainty in the country make take its toll on growth.
Donaco plans buyback
marketing the property to a new group of international VIPs. During the year, it signed a deal with international marketing agency Vivo Tower Ltd. to attract junkets from Macau, Hong Kong and Malaysia. Vivo Tower has already engaged Malaysian junket operator, Da Kim
Global Group to bring in VIP customers starting from July 1. Bavet City may also host a new resort. According to local media, Virtue Resources is planning a $200 million project to be known as Empire World City, consisting of a casino, hotel & resort, as well as a Water Show Arena.
Donaco International is implementing an on-market buyback for a maximum of up to 41.5 million shares, representing a maximum of 5 percent of the total. Managing Director and CEO Joey Lim says the buyback will complement the company’s dividend policy. “Our primary focus in assessing all potential uses of the company’s cash holdings is to ensure a strong return for shareholders. Buying the company’s shares at recent prices represents an excellent opportunity to generate strong returns. He says the buyback, scheduled to start Oct. 30th, will help boost earnings per share and have no impact on operations.
Asia Gaming Briefings | November 2017
Published on Nov 10, 2017