Looking to start afresh with new fervour, the Asian casino operator has announced to be known as Pan Asian Leisure Ltd. The operator terms the move to rebrand itself as “a new beginning for the company.”
The casino operator will be holding its annual general meeting (AGM) on November 29 in Sydney. While the company has proposed several changes, one of them is to rebrand to Pan Asian Leisure Ltd.
The company aims at making a fresh start amidst slumping revenues and poor performance. The casino operator in a statement on Monday said that its financial performance over the past two fiscal years “has been unacceptable.”
While the casino operator has been battling with slumping revenue for a long time, 18 months to be precise its strong growth at Vietnamese casino Aristo brought it back to profit in Q3.
The company has been facing legal disputes with former vendors of its Star Vegas property in Cambodia and these have been taking a toll on its revenue.
The Group’s revenue grew by 42 percent in the three months to September 30 and its EBITDA jumped 167 percent to AU$8.9 million.
Donaco posted a net profit after tax of AU$3.8 million for the quarter. Last year for the same period the company had incurred a loss of AU$1.8 million.