News location:

Canberra Today 11°/15° | Saturday, March 30, 2024 | Digital Edition | Crossword & Sudoku

Chinese tycoon bids for Casino Canberra

A CHINESE tycoon has launched a takeover bid of Casino Canberra. 

Casino Canberra.
Casino Canberra.
Billionaire Tony Fung, who funds Aquis Casino Acquisitions, has expressed interest in acquiring Casino Canberra and the Reef Hotel Casino in Cairns, as part of an estimated $276 million deal.

Earlier this year Casino Canberra was forced to cut staff and operating hours due to a significant fall in revenue, with the casino blaming the cuts on unfavourable economic conditions and the ACT Government’s refusal to allow it to operate poker machines.

But an announcement to the Australian stock market today said the casino’s owner, Casinos Austria International, has agreed to sell the casino to Aquis Casino Acquisitions.

Aquis has allegedly started meeting with the Queensland and ACT governments regarding regulatory processes involved.

Who can be trusted?

In a world of spin and confusion, there’s never been a more important time to support independent journalism in Canberra.

If you trust our work online and want to enforce the power of independent voices, I invite you to make a small contribution.

Every dollar of support is invested back into our journalism to help keep citynews.com.au strong and free.

Become a supporter

Thank you,

Ian Meikle, editor

Share this

Leave a Reply

Related Posts

Follow us on Instagram @canberracitynews