{"id":31513,"date":"2022-07-07T04:23:56","date_gmt":"2022-07-07T07:23:56","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=31513"},"modified":"2026-04-23T07:05:05","modified_gmt":"2026-04-23T10:05:05","slug":"bidding-war-breaks-out-for-canberra-casino","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/bidding-war-breaks-out-for-canberra-casino","title":{"rendered":"Bidding war breaks out for Canberra Casino"},"content":{"rendered":"\n<p>The two potential buyers have upped their offers for Canberra Casino.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Australia.- A bidding war has broken out between Capital Leisure &amp; Entertainment Pty and Iris Capital for <strong>Canberra Casino<\/strong>. Capital Leisure &amp; Entertainment Pty Ltd was close to closing a deal to buy the casino from Aquis Entertainment when <a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/aquis-entertainment-receives-second-offer-for-canberra-casino\" target=\"_blank\">an unexpected new offer emerged<\/a> from Iris. <\/p>\n\n\n\n<p>Capital Leisure upped its bid from\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/aquis-agrees-to-sell-casino-canberra-for-au52m\" target=\"_blank\">AU$52m (US$36m)<\/a>\u00a0to AU$58.2m (US$39.5m). However, Iris Capital has offered AU$60m (US$41m), including an AU$1m interruption fee if the operator accepts a better offer.<\/p>\n\n\n\n<p>The Aquis board said\u00a0<strong>it would review the Iris Capital proposal\u00a0<\/strong>and update Aquis shareholders and the market in due course. Canberra Casino isAquis Entertainment&#8217;s largest asset and a sale would leave it to evaluate other potential business opportunities.<\/p>\n\n\n\n<p>It said it would use the sale proceeds to repay some or all of the convertible loan from major shareholder Aquis Canberra. The loan has an outstanding balance of AU$33m.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two potential buyers have upped their offers for Canberra Casino.<\/p>\n","protected":false},"author":176,"featured_media":16856,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"A bidding war has intensified for Canberra Casino, with Iris Capital submitting a AU$60 million offer, surpassing Capital Leisure & Entertainment Pty's AU$58.2 million bid. Aquis Entertainment, the current owner, is reviewing the new proposal, intending to use sale proceeds to repay a significant convertible loan and explore new business opportunities. This M&A activity highlights strategic asset divestment within the Australian gaming market.","focusai_entities":"Capital Leisure & Entertainment Pty, Iris Capital, Canberra Casino, Aquis Entertainment, Aquis Canberra","focusai_location":"Australia, Canberra","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.8), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Aquis Post-Sale Strategy","query":"What are Aquis Entertainment's specific strategic objectives and capital deployment plans for the proceeds post-divestment of Canberra Casino, particularly regarding its remaining asset portfolio and future growth verticals?"},{"label":"Regulatory Approval Timeline","query":"What is the anticipated timeline and key regulatory hurdles for the successful bidder to secure all necessary gaming licenses and approvals from Australian authorities for the acquisition of Canberra Casino?"}],"footnotes":""},"categories":[16336,157,158],"tags":[23787,23786],"class_list":["post-31513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","category-slider-home","tag-aquis-entertainment","tag-casino-canberra"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31513","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=31513"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31513\/revisions"}],"predecessor-version":[{"id":31539,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31513\/revisions\/31539"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16856"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=31513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=31513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=31513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}