Acquisition of Star Vegas Resort in Cambodia on track

Donaco International announced that the acquisition of the Star Vegas Resort and Club in Poipet, Cambodia, is on track for completion on 1 July, 2015.

The company said in a filing that due diligence has been successfully completed and the conditions related to loan agreements satisfied.

“If all conditions precedent are satisfied, completion of the Transaction will take place on 1July. The company will obtain ownership and control of the Star Vegas business on and from that date.”

In March, the Australia-based casino operator said it will borrow $100 million from Taiwan’s Mega Bank to help fund the acquisition.

The company also  intends to sign agreements for a working capital facility, providing debt funding in the amount of $20 million to support its Cambodia and Vietnam operations, the company said in the filing.