Aquis Entertainment has now completed the sale of Casino Canberra to Iris CC Holdings for AU$60.5m.
A further AU$2.5m is being held in escrow to be released to Aquis nine months from completion, subject to no warranty claims being issued.
Aquis outgoing director and CEO Allison Gallaugher said: “As a Board, we are very pleased to have been able to negotiate and complete this transaction, which provides significant benefits to all stakeholders. As a CEO and employee, I am very excited to lead the Casino Canberra under Iris ownership and we look forward to continuing to grow the strong results we have built over the past few years and for the opportunities available for us all with Iris moving forward.”
She will continue as CEO of Casino Canberra after stepping down from her position as Director and CEO of Aquis.
The board of Aquis has been considering the use of funds from the sale and the future of Aquis as a
listed entity. It expects to be in a position to make a decision, and advise shareholders, in respect of
these matters by the end of January 2023