Aquis Entertainment revenue up 49.3% in 2022

Aquis Entertainment also reported a 4,009 per cent rise in profit as a result of the sale of Casino Canberra,

Australia.- Aquis Entertainment has reported that revenue was up 49.3 per cent on year-on-year terms to AU$37.59m (US$25.3m) in 2022. Earnings before Interest Tax Depreciation and Amortisation (EBITDA) increased by 121.7 per cent to AU$7.48m (US$5.03m).

Last year saw Aquis Entertainment complete the sale of Casino Canberra, which led to a 4,009 per cent increase in profit to AU$9.48m (US$6.38m). Casino Canberra was sold to Iris CC Holdings for AU$63m (US$42.03m), with the group receiving AU$60.5m (US$40.53m) as a completion payment.

Aquis dismissed a previous offer from Capital Leisure & Entertainment for which it had to pay an AU$1m break fee. 

The company stated: “The board of Aquis has been considering how to best utilise the profits from the sale and accordingly, the future of Aquis as a listed entity. The board’s goal is to consider and determine a suitable and appropriate direction for Aquis and the best outcome for all shareholders and will report to the market when an initial determination has been made.”