Donaco appeals Cambodian arbitrator decision against Star Vegas

Casino operator Donaco International says it is appealing against an arbitration decision by a Cambodian court that found it justified that those who sold the lease of Cambodia's Star Vegas resort and club (pictured) had terminated the deal.

The casino company "operates as usual for Donaco, particularly its Star Vegas business, while the appeals process is pending," it said in a filing with the Australian Stock Exchange on Thursday.

The dispute between the Australian-listed Donaco and the property's original Thai traders, located in Poipet, a gambling hub on Cambodia's Thai border, is separately subject to a pending arbitration that began in January last year in Singapore.

"The arbitral award cannot be enforced until it is registered and enforced by a court with jurisdiction," Donaco said in a filing with the Australian Stock Exchange on Thursday regarding the Cambodian tribunal decision

GGRAsia reported in June last year that three Thai suppliers had begun arbitration proceedings to resolve the dispute in Cambodia.

Earlier in the day, Donaco said Cambodia's Bantei Minchi first trial court had filed a provisional injunction that would prevent landlord Rehoe Properties Limited, which is 100% owned by three Thai suppliers, from ending its 50-year lease.

The lease includes a 50-year extension option, according to Donaco's latest filing. It is registered as a permanent lease with Cambodian authorities, according to the company.

The casino company noted in its filing on the latest aspects of the dispute: "Donaco has already filed an appeal with Phnom Penh's Court of Appeals on certain procedural aspects of the arbitration proceedings. Donaco will now file a further appeal against the decision itself."

The company also stated, "Donaco states that permanent leases registered in Article 250 of Cambodia's Civil Code can only be terminated if the rent has not been paid for three years. However, the arbitrator ruled that this provision of law could be ignored by a private agreement between the parties. This would form one of the reasons for appeal."

BY: 안전 슬롯사이트