Aquis Entertainment receives second offer for Canberra casino

The company requested a suspension from trading on the Australian Stock Exchange.

07/05/22

Aquis Entertainment has received a higher offer than that made by Capital Leisure & Entertainment Pty Ltd in May.

Australia.- It seemed that Aquis Entertainment’s sale of Canberra Casino to Capital Leisure & Entertainment Pty Ltd was almost a done deal, but an unexpected new offer has been put on the table. As a result, Aquis Entertainment requested the suspension of its listing on the Stock Exchange of Australia and is analysing the steps to follow.

In May, the company agreed to sell Canberra Casino for AU$52m to Capital Leisure & Entertainment Pty Ltd, a group is owned and controlled by interests associated with the Oscars Group. With the transaction involving the company’s major asset, the company announced it would review other potential business opportunities.

It also planned to use the funds from the sale to pay off part or all of a convertible loan from major shareholder Aquis Canberra. The loan has an outstanding balance of AU$33m.

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