reopening in August<\/a><\/em><\/strong>, its casino’s revenues have returned\u00a0to pre-shutdown levels\u00a0despite ongoing Covid-19 measures.<\/p>\n\n\n\nIt said: \u201cDuring the shutdown, the company was placed into \u2018hibernation\u2019 and operated with minimal expenses. Post\u00a0shutdown, strict\u00a0management\u00a0of\u00a0expenses\u00a0and\u00a0a\u00a0conservative\u00a0return to\u00a0operations has\u00a0enabled\u00a0the\u00a0business\u00a0to quickly recover and\u00a0return to pre-shutdown\u00a0operations.\u201d\u00a0<\/p>\n\n\n\n
The company says it will maintain its\u00a0medium-term\u00a0strategy, outlined in 2016, as well as its original budget forecast with the expectation of positive EBITDA and cash flows for the full financial year.\u00a0\u00a0<\/p>\n\n\n\n
Aquis\u2019 projection is that the “strong\u00a0performance\u00a0seen pre- and post-shutdown period will allow achievement of these expectations.\u201d\u00a0<\/p>\n\n\n\n
For the six months ending June 30, the operator reported a\u00a0loss\u00a0of AU$2,683,052\u00a0(US$1,921,532) as\u00a0a result of the shutdown. This in spite of the\u00a0majority of wages being paid\u00a0through the federal government\u2019s JobKeeper subsides.\u00a0<\/p>\n\n\n\n
The operator said it received\u00a0JobKeeper\u00a0payments totalling AU$1.66m (US$1.19m).\u00a0<\/p>\n\n\n\n
It added that the operation was able to use the AU$972,196 (US$696,261) destined for the casino licence fee for 2020, which was waived in full as part of the government\u2019s relief measures. <\/p>\n\n\n\n
The casino tax for March and the\u00a0liquor\u00a0licence\u00a0fee for the\u00a0June\u00a0quarter were also waived and refunded.\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
The operator of Casino Canberra is maintaining its mid-term strategy and original budget projections for 2020.\u00a0\u00a0<\/p>\n","protected":false},"author":2,"featured_media":10913,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Aquis Entertainment, operator of Casino Canberra, has reported a recovery to pre-pandemic revenue levels post-reopening, despite a half-year loss attributed to the shutdown period. The company maintains its 2016 medium-term strategy and original budget projections, anticipating positive EBITDA and cash flows for the full financial year, significantly aided by federal government subsidies and licence fee waivers.","focusai_entities":"Aquis Entertainment, Casino Canberra, JobKeeper","focusai_location":"Australia, Canberra","focusai_target_profile":"ceo_executive (0.95), regulator (0.85), compliance_legal (0.75), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Sustainability of Recovery?","query":"What is the projected sustainability of Casino Canberra's revenue recovery and positive EBITDA without the continuation of federal government subsidies and licence fee waivers?"},{"label":"Operational Efficiency Drivers?","query":"What specific operational efficiencies and cost management strategies were implemented by Aquis Entertainment to achieve pre-pandemic revenue levels despite ongoing COVID-19 restrictions?"}],"footnotes":""},"categories":[16336,161,163],"tags":[23787,289,23786],"class_list":["post-10911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-daily-news","category-finance-news","tag-aquis-entertainment","tag-australia","tag-casino-canberra"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=10911"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10911\/revisions"}],"predecessor-version":[{"id":10921,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10911\/revisions\/10921"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10913"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=10911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=10911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=10911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}