Donaco shares benefit from rosy Vietnam prospects

    Published in: Latest IntelligenceShares in Donaco International (DNA.AX) have gained 10.8 percent to hit a fresh 52-week high this week on optimism over the company’s planned new five-star hotel & casino in northern Vietnam. Stock in Australia-listed Donaco closed at A$1.28 on Wednesday. The shares rose 6.7 percent on March 5, setting a new 52-week top of $1.40, after CLSA initiated coverage on the company with a positive report. The March 5 increase was the biggest one-day gain since Feb. 7. The volume of shares traded last week was 30 percent above the 30-day average. CLSA said it expects Donaco’s EBITDA to surge to A$80 million (US$89.2 million) in 2016, up from A$10 million last year. CLSA set a twelve-month target price of A$1.69 for the casino company, representing upside of some 40 percent. The brokerage said returns per gambling table, or table yields, are likely to quickly recover following new supply at...

    Intelligence Articles is a premium content section developed for AGB members only featuring in-depth articles on relevant items of interest across the multiple Asia Pacific Gaming jurisdictions. To continue reading, subscribe now.