Logo of Phnom Penh Post newspaper Phnom Penh Post - Poipet casino operator to buy back 5% of stock

Poipet casino operator to buy back 5% of stock

Poipet casino operator to buy back 5% of stock

Casino operator Donaco International Ltd announced plans to generate strong returns through an on-market buyback of up to 41.5 million of its shares, to a maximum of 5 percent of its ordinary shares, according to a release on Australian Securities Exchange.

The buyback is expected to begin around October 30 of this year and will be open for 12 months. While the total number of shares to be purchased has not been set, the company has a maximum amount of nearly $4 million on the buyback.

Donaco operates the Aristo International Hotel on the Vietnamese border with China and the Star Vegas Resort on the Cambodian border with Thailand, where it maintains its profits by attracting business from countries where gambling is banned.

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