Aquis says Casino Canberra revenue remained strong in Q2

Despite the ongoing impact of the Covid-19 pandemic, Aquis Entertainment has continued to exceed budgeted EBITDA.

Australia.- Aquis Entertainment has reported that business revenues remained strong for the quarter ended June 30. It said it continued to exceed budgeted EBITDA, although its quarterly cash flow report gave no detailed figures,

It said that Covid-19 disruptions continue among staff but that its Covid-19 Safety Plan remained in place and had been maintained up to date in accordance with the ACT Public Health Direction. 

Aquis Entertainment has agreed to sell Casino Canberra to Iris CC Holdings Pty Ltd (Iris) for AU$63m (US$42m), pending customary completion adjustments. It said it had already received a deposit of AU$2.5m towards the transaction.

Aquis has previously said it was considering using the proceeds from the transaction to repay some or all of the convertible loan it has from major shareholder Aquis Canberra Holdings Pty Ltd. It was also considering the possibility of a shareholder dividend or distribution.

Aquis dismissed a previous offer Capital Leisure & Entertainment so it will be required to pay an AU$1m break fee.