Seems that all of the competing casinos have reopened in the Poipet strip. That explains why visitation has dropped dramatically. Even worse, the VIPs are obviously going elsewhere in droves, which explains the 95% drop in turnover.
They won't be able to sustain such a high win rate in future quarters. When it reverts to theoretical, earnings will plummet.
So this is a glimpse of the future of Star Vegas. Obviously no-one wants to hang around in a tired old run-down casino that has had nothing spent on it for 3 years.
The Thai vendor is probably happy, if the players are going to all the competing casinos that he owns in Poipet. But as always, minority shareholders in DNA will get screwed.
DNA Price at posting:
5.4¢ Sentiment: None Disclosure: Not Held
