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Australia – Casino Canberra sees 33 per cent improvement from last year

By - 1 March 2022

Australian casino operator Aquis Entertainment, has said that revenues at Casino Canberra, improved by 33 per cent for the financial year ended December 31, reaching $25.2m.

EBITDA gave a profit of $3.3m with Casino Canberra opening on a limited basis on October 29.

The ACT has suffered an outbreak of the Omicron variant of Covid-19 during the beginning of 2022. The casino
remains open and as at the date of this report, trading results continue unaffected by the outbreak, with operational
procedures having been implemented to manage all mandated Government restrictions. The ACT Government has lifted all restrictions and Casino Canberra has returned to its pre Covid-19 trading and capacity arrangements.

The company said: “The Directors are confident of the outlook for Aquis. The casino’s highly experienced operations leadership team continue to execute the vision of attracting and servicing quality players. Ongoing internal restructures to improve the alignment of teams within the group continues to improve efficiencies in our workforce, in addition to the absorption of several roles on resignation of incumbent employees. Our Business Development team have focused on growing the existing customer database over the year, continuing to customise offers to individual members which has proved very successful in maximising revenues while minimising costs, ensuring all expenditure is effective.”

“Legislation was enacted in 2018 to allow 200 electronic gaming machines (EGM’s) to operate within the casino,
subject to several conditions. During 2021 the planned advancement of this part of the strategy was restricted due
to ongoing effects of the Covid-19 pandemic and another shutdown, however as the Omicron outbreak eases and
operations stabilise, focus will again return to future plans for redevelopment and discussions surrounding the
details of the legislated requirements for the EGM’s to enable planning for the future,” it added.

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