Donaco to boost stake in Vietnam venture

    Donaco International said it’s boosting its stake in its Lao Cai International Hotel joint venture by a further 20 percent, taking its total holding to 95 percent. 

    The Vietnamese government will hold the remaining equity interest. Donaco said the venture’s new five-star project, being built on the site, in on track for a soft opening in March this year. Donaco has won approval from the Vietnamese government for up to 50 casino tables, far above the initial guidance that indicated just 16 tables at the casino. The company said it’s likely to open with 40, though those figures have yet to be finalized. Canaccord Genuity recently upped its 2014 and 2015 EPS targets for the company following the upgraded news on the Vietnam project. The firm now expects 2014 EPS of 2.8c and 2015 to 7.8c.