Australia-listed Donaco International said visitation to its Aristo International casino in northern Vietnam doubled in March and was up 43 percent in April as VIP numbers rebounded.
In an investor presentation, the company said VIP revenue was up 123 percent in March to $201 million. In April, turnover continued to increase reaching $219 million.
The company said its room occupancy rate was about 70 percent at $61 a night.
Donaco said it now has 34 junket operators and has developed new rebate programs to attract more. Most of the junkets are local entrepreneurs from Yunnan province, it said.
Aristo VIP players would be premium mass at best in Macau.
“Macau is for the super rich. Here the middle rich are treated like high rollers” a quote from a junket operator named in the presentation as Chen said.
Donaco also said that its acquisition of a casino in Cambodia is on track and it expects to close the purchase in July.
The Star Vegas resort in Poipet has 109 tables and 1,264 slot machines. The hotel has 385 rooms, with daily visitors averaging at 5,000.
Donaco agreed to pay $360 million for the property, which it says will be “transformational” for the company.