Aquis Entertainment posts net revenue of US$12.2m for FY22

Aquis Entertainment’s net revenue grew by AU$17.8m (US$12.2m) in the year ended June 30.

Australia.- Aquis Entertainment Ltd has announced its financial results for the fiscal year 2022, reporting AU$3.16m (US$2.16m) in net profit versus AU$0.3m (US$0.2m) in the previous year. Net sales increased from AU$14.5m (US$10m) to AU$17.8m (US$12.2m). Services revenue, which accounted for 92 per cent of all revenue, rose 23 per cent to AU$16.4m (US$11.24m).

The company’s earnings per share were nine times higher at 1.71 cents, compared with 0.20 cents in FY21. Aquis Entertainment reported that its cash position was relatively strong, with cash on hand of AU$9.4m (US$6.44m) as of June 30, compared to AU$6.5m (US$4.45m) in 2021.

The company reported net cash from operations for the period was AU$2.7m (US$1.85m compared to AU$1.9m (US$1.31m).

In July, Aquis Entertainment reported it accepted Iris CC Holdings’ proposal to buy Casino Canberra. Iris CC acquired 100 per cent of the shares of Aquis’s wholly owned subsidiary, Aquis Canberra Pty Ltd for AU$63m (US$42m), plus or minus customary completion adjustments.

Aquis has thus dismissed Capital Leisure & Entertainment’s previous offer. It will be required to pay Oscars an AU$1m break fee.