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Australia – Aquis reports dip in Casino Canberra’s performance

By - 22 August 2018

Amid the collapse of its foray into eSports and the resignation of its CEO, Australian casino operator Aquis Entertainment reported the GGR at its Casino Canberra fell by 3.6 per cent to AU$12.3m for the six months of 2018.

However, the company did report reduced losses from AU$4.2m last year to AU$2.2 m this year.

Aquis stated: “The group continued to apply the medium-term strategy outlined in 2016 of demonstrating the group’s ability to significantly improve an underperforming operation by a combination of leadership and targeted investment in the business. Following a total refurbishment of the main gaming floor which was completed in mid-2016, operations have continued to grow month-on-month through the 2018 half of the year.”

Chairman Tony Fung confirmed CEO Jessica Mellor would be leaving in February. “The company will work to ensure that the transition over the coming months is as seamless as possible, and the positive momentum generated to date is maintained,” he said.

Referring to the collapsed deal with Executive Sports and Entertainment, which would have created an eSports brand titled QeSports, Aquis added:“Aquis and ESE did not proceed to binding agreement as the parties were unable to reach agreement on the final terms. Aquis has today agreed to terminate their non-binding agreement with ESE. No financing arrangements related to the proposed joint venture, as referred to in the 29 May 2018 announcement, has been entered into. Aquis advises that the company does not intend to pursue an eSports business at this time.”

Perhaps most importantly though Aquis still hasn’t launched any slot machines and is still to file its revised blueprint for the expansion of Casino Canberra which saw the government offer 200 slot machines and 60 electronic table games.

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