Asian land casino operator nears launch date for live dealer introduction

Australian land casino operator Donaco International has filed papers with the Australian Stock Exchange indicating that its much-publicised intention to go online with a live dealer offering will be achieved “within the next month”.

The filing concerns Donaco’s deal with junket marketing operator Vivo Tower for the provision of a 12-table live dealer space in Donaco subsidiary Star Vegas in Cambodia as the basis for the new online product.

The filing caused some confusion, following just a week after Donaco CEO Joey Lim told a Malaysian business publication that there could be delays in the planned October launch.

Donaco announced late last year that it had obtained a Cambodian online gambling licence (see previous report) and planned to use it in order to create new revenue streams.

The group’s technology partner for the new enterprise is at present not known.

In related news, Lim has explained why his family has just sold a total of 37.5 million shares in the company for an aggregate consideration of A$15 million (US$11.9 million).

In a filing to the ASX on Monday, Donaco said the placement to international and domestic institutions was for private and family reasons.

“I firmly believe that Donaco’s shares are undervalued at current prices, but due to the timing of these circumstances, there was no alternative but to sell shares at this time. I continue to have a very positive view on the prospects for the Company, and my family and I continue to own more than 230 million shares, representing more than 27 percent of the stock,” Lim said.

Related and similar