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Tag Archives: Canberra

Australia – Casino Canberra ends successful first half with another closure and owner’s retirement

Improved business volumes and controlled spending saw Australian casino group Aquis Entertainment, owner of Casino Canberra, return to profit in its first half year results to June 30 2021, although the retirement of owner Tony Fung stole the headlines. Mr. Fung stepped down as Chairman and non-executive director, saying there was a need for the…

Australia – Aquis Entertainment keen to re-energise plans to redevelop Canberra casino

Having turned a loss of $3.96m into a profit of $798,201 in 2020, Aquis Entertainment, operator of the Canberra casino in Australia’s capital, has said it wants to kick on with stalled government negotiations to transform the casino into an integrated resort. The company was granted conditional approval in November 2017 to operate 200 electronic…

Australia – GGR back on track for Aquis Entertainment in Canberra

Revenues at Casino Canberra are back at pre-pandemic levels, according to its owner Aquis Entertainment, who announced a loss of USA$2.7m for the first half of 2020. The casino reopened in August with performance so good that Aquis believes it will maintain its medium-term strategy, as well as its original budget forecast with the expectation…

Australia – Casino Canberra reopens its doors after four months

Casino Canberra has now reopened having ceasing operations more than four months since first closing its doors on March 23. Its owners Aquis Entertainment Group, owned by Hong Kong businessman Tony Fung, said the casino would operate on a limited basis with customers being served alcohol needing to be seated, a maximum of 100 people…

Australia – ACT Government offers cash for slots buy-back scheme

Politicians in The Australian Capital Territory, which includes Canberra, are offering restaurants and clubs the opportunity to surrender poker machines in exchange for $15,000 per ‘authorisation’ as long as the proceeds go towards retaining and supporting staff during the COVID-19 pandemic. The proposal is currently capped at 250 machines. The ACT Government, led by Andrew…

Australia – Losses deepen at Casino Canberra with developments still stalled

Casino Canberra’s losses have deepened to A$2,553,772 in Australia with revenue falling 2.7 per cent to just under A$12m in the first half of the year. Aquis Entertainment Limited, the owner of the casino, said it had continued to create ‘efficiencies’ through cost control and improving business processes. It is still in discussion with the…

Australia – Casino Canberra bought by Blue Whale Entertainment

Casino Canberra has been bought by Blue Whale Entertainment for $32m, giving ownership to Blue Whale owner Michael Gu, who heads one of Australia’s biggest hotel operators. Hong Kong billionaire Tony Fung, who fronts Aquis, bought Casino Canberra from Casinos Austria for $6.5m four years ago, has sold having seen the ACT government kick his…

Australia – Aquis moves into final stages of discussions over Casino Canberra

Aquis Casino Canberra has moved into the final stage of discussion with the government in the Australian Capital Territory to transform the casino into a five-star complex complete with slots. The company said it had received in-principle support from the ACT Government to advance to Stage Three of the Investment Proposal process with its planned…

Australia – ACT government to allow 200 slots at Canberra casino

Canberra Casino will be able to operate slot machines for the first time following a decision by the ACT Government to allow the move in exchange for a A$330m redevelopment at the venue which will new restaurants, hotels, shops and entertainment to the Australian capital. Chief Minister Andrew Barr has approved moves for the casino…