The vote was held Thursday at an extraordinary general meeting convened by three shareholders who asked for a revamp of Donaco's board.

Donaco said in a filing with the Australian Stock Exchange (ASX) that more than 90% of those who voted at Thursday's meeting were in favor of removing the Lim brothers from the board.

Joey Lim is Donaco's founder, former managing director, and CEO. He was the company's CEO and managing director until his hiring ended "with immediate effect" on Mar. 19. During his absence, Ben Lim stepped in as acting CEO. The brothers are descendants of a family that founded Genting, a Malaysian casino giant.

The company appointed its new CEO, Paul Arbuckle, from June 12.

In June, Donaco told ASX that it had received notices from shareholders Spenceri Management Pty Ltd, as a trustee of Spenceri Family Trust and Spenceri Family Superannuation, respectively, and from Antonia Caroline Colofy, an extraordinary general meeting to consider a resolution to remove the Lim brothers from the board. Shareholders hold all 5.04% of Donaco's shares.

Investors James Spencerley and his associated companies control about 4.68 percent of Donaco's stake. Spencerley told the Australian Financial Review newspaper that Joey Lim Keng and his brother's departure from Donaco's board "needs to happen for the company to get back on the investor watchlist." 바카라사이트

Mr Spencerley has been chairman of Silver Heritage Group, another Asian regional casino operator listed in Australia since May last year.

The two companies are not directly competitive. Silver Heritage has its main business in casinos in Nepal, which borders India. Donaco has its main business in a place called Star Vegas Resort and Club in Poipet, which borders Thailand. However, according to investment analysts, all Asian casinos are particularly interested in competing for a finite pool of gamblers, such as VIP casinos.

A third party, who owns a 19.25 percent stake in Donaco since the end of June, has asked for two seats on the company's board of directors. The stake was held by a creditor over the companies owned by Joey Lim. The casino company said at the time that the size of the stake involved would only give the owner one seat on the board of Donaco "under normal circumstances," and the company would like the board to consist of a majority of independent directors.

Donaco last month said it expected a legal net loss in the current fiscal year, adding that dividends or share buybacks would not be allowed in the next fiscal year.