{"id":777005362,"date":"2023-05-18T12:57:16","date_gmt":"2023-05-18T15:57:16","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777005362"},"modified":"2026-04-22T21:51:47","modified_gmt":"2026-04-23T00:51:47","slug":"tony-fung-returns-as-chairman-of-aquis-entertainment","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/tony-fung-returns-as-chairman-of-aquis-entertainment","title":{"rendered":"Tony Fung returns as chairman of Aquis Entertainment"},"content":{"rendered":"\n

Tony Fung will return to replace Russell Shields.<\/p>\n\n\n\n\n\n\n\n

Australia.- Aquis Entertainment<\/strong> has confirmed the departure of chairman Russell Shields from its board, with Hong Kong businessman Tony Fung set to take over<\/strong>. The change in leadership is effective immediately.<\/p>\n\n\n\n

Shields assumed the position of chairman in November 2021, having previously served as the senior non-executive director of the company since July 2015. Prior to that, Fung was chairman and non-executive director, stepping down in August 2021 due to conflict of interest. Fung had initially purchased Casino Canberra, along with its gaming licence, from Casinos Austria International in 2014.<\/p>\n\n\n\n

The decision to replace Shields comes in the wake of major shareholder Aquis Canberra Holdings’ intention to pursue a compulsory acquisition of the remaining shares in the company<\/strong>. Shields commended staff at Aquis Entertainment and Casino Canberra, while acknowledging Fung’s pivotal role in the transition. <\/p>\n\n\n\n

He noted that the acquisition of Casino Canberra<\/a> by the new owners as a significant gain, highlighting the asset’s strength and the management team’s professionalism. Aquis received AU$60.5m (US$40.51m)<\/strong> for the sale of Casino Canberra to Iris CC Holdings, with a further AU$2.5m (US$1.67m) in cash being held in escrow for a period of nine months. <\/p>\n\n\n\n

The company had previously said it was looking for other business endeavours but now plans to cease operations unless it finds \u201copportunities it considers may be worth pursuing\u201d.<\/p>\n\n\n\n

See also: <\/strong>Aquis Entertainment to wind down following Casino Canberra sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tony Fung will return to replace Russell Shields.<\/p>\n","protected":false},"author":176,"featured_media":29796,"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 has confirmed the immediate departure of Chairman Russell Shields, with Tony Fung returning to the role. This leadership change follows a compulsory acquisition attempt by major shareholder Aquis Canberra Holdings and the recent sale of Casino Canberra to Iris CC Holdings for AU$60.5m. Aquis Entertainment now plans to cease operations unless new business opportunities are identified.","focusai_entities":"Aquis Entertainment, Russell Shields, Tony Fung, Aquis Canberra Holdings, Casino Canberra, Casinos Austria International, Iris CC Holdings","focusai_location":"Australia, Hong Kong, Canberra","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.8), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Regulatory Impact Casino Canberra?","query":"What are the specific regulatory implications for Casino Canberra's gaming licence and operational compliance under its new ownership, Iris CC Holdings, following the acquisition?"},{"label":"Aquis Entertainment Wind-down Plan?","query":"Beyond the Casino Canberra sale, what is the detailed plan for Aquis Entertainment's potential wind-down, specifically regarding its remaining assets, liabilities, and shareholder distributions?"}],"footnotes":""},"categories":[16336,157],"tags":[23787],"class_list":["post-777005362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-aquis-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005362","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=777005362"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005362\/revisions"}],"predecessor-version":[{"id":777005395,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005362\/revisions\/777005395"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/29796"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777005362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777005362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777005362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}