Donaco’s top brass are showing their confidence in the company.
Donaco International Ltd. is going to have a difficult road to recover after being forced to regain stockholders, removing the Lim brothers and challenges in Cambodia.
Donaco International has attempted the Cambodian court to put the lease contract for the Star Vegas Resort and Club back, which an arbitrator ruled in favor of the Thai partners.
The position that Lim brothers vacated has already been filled, as Donaco told the Australian Securities Exchange (ASX) that it has found a replacement.
Lim brothers have been forced to give up their spots and are now virtually removed completely from anything related to Donaco.
Australia-based Donaco International Ltd. announced that Paul Arbuckle has been selected as the CEO of the casino operator.
Despite a first-quarter revenue increase of 7%, Donaco isn’t happy with the performance of the men running the show, the Lim brothers.
The Australian Securities and Investments Commission is seeking the assistance of an investment bank or a stockbroker to sell the nearly 80 million shares in Donaco.
The former co-founder of Donaco International has been successful in stopping the sale of 9.71% of the company stock.
Donaco International Ltd., the Australia-listed casino operator, says its net revenue grew to US$17.2 million in the first calendar quarter of this year.