DNA 0.00% 3.5¢ donaco international limited

Don't trust this management anymore. If legal dispute, I still...

  1. 487 Posts.
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    Don't trust this management anymore. If legal dispute, I still can understand. This is very poor operating discipline. Some of the statements are just inconsistent and plainly deceitful. 


    The number just doesn't add up. Rolling chip has doubled and yet net gaming revenue drop substantially. During the investor call in August, the analyst asked about win rate so far. Quoting him: "We are clocking in decent win rate" They boast about 11 billion rolling chip in August. This means other three months rolling chip is only 3 billion per month? That's terrible. Also, when the injunction is overturned, they didn't report this material issue immediately. Where is ASX and regulator? 


    Also, Aristo is an asset that is getting no where. Max only 12 million EBITDA. There is no growth and upside but systematically plagued by issues.The criminal issue happened in July and August. There is no announcement during annual reporting and analyst conference call. How can they boast about keeping investor informed? 


    Given the injunction overruled, I won''t be surprised, they will close shop in Feb. Then the vendor will have all the cards in his hand. If that happened, this will be a 5c share provided that the bank don't come and knock on the door. 

 
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