Aquis, reviewing Cairns project
Aquis Casino Acquisitions Pty Ltd said it was “under consideration” of plans to build an Australian casino resort (artist rendering photo) worth A$8.15 billion ($7 billion). The decision came after the company’s offer to buy an existing casino site in Queensland fell through after delays in obtaining necessary regulatory approval.
Aquis is wholly owned by Tony Fung Wing Cheng, former chairman of Hong Kong-based financial services company Sun Hung Kai and Co Ltd.
The casino resort project, called Aquaris Great Barrier Reef Resort, plans to develop 7,500 hotel rooms, gaming facilities, a golf course, and a water park on a site north of Cairns on the Queensland coast.
The nearby Leaf Hotel Casino is currently the only casino building in Cairns.
The latest Aquis announcement on Monday, outlining the importance of the link between the Leaf Hotel casino acquisition and the new project, came after the Queensland Liquor and Gaming Regulatory Authority recommended that all gaming regulatory approvals for the deal could not be granted until November 28, the expiration date of Aquis’ offer.
In November 2013, Aquis announced an acquisition bid for the leaf casino trust, which owns the leaf hotel casino. The trust is managed by Accor SA and casis austria AG. Both companies voted in favor of the deal.
“Aquis is committed to becoming a major investor in Cairns and Queensland Far North, and continues its efforts to move forward with the proposed development of an integrated resort,” the company said.
However, “Completing the 2014 Leaf Casino Trust acquisition offer has always been critical to Aquis’ overall financial and investment plans. In this regard, Aquis will conduct a strategic review of its plans and development schedules over the coming months.”
The company said it could reconsider its acquisition of the Leaf Casino Trust next year, but “there is no certainty that such a deal will be made.”
Aquis has previously said the acquisition of the Leaf Hotel Casino was a relevant part of its Cairns Unified Resort development plan. “The Leaf will provide a strong branding and operations platform ahead of its opening in 2019,” it said in an earlier statement.
The company is still in the process of acquiring Casino Canberra, Australia’s administrative capital, it said in an announcement on Monday. 에볼루션 바카라사이트
The deal was initially conditional on the acquisition of the Leaf Casino Trust. Austrian Casino, a supplier of Aquis and Casino Canberra, agreed to complete the deal at a discounted price of A$6 million before Christmas, with approval from regulators.