Australian casino redevelopment yet to be confirmed

The ACT government hasn’t reached a decision about the unsolicited bid to redevelop Aquis Entertainment’s Canberra Casino.

Australia.- The Australian Capital Territory (ACT) has already discussed the issue twice this year but there are still no confirmations about what it will do with Aquis Entertainment’s unsolicited bid to redevelop the Canberra Casino. The company had been given a deadline to hand over financial details for the multi-million dollar plan to overhaul the venue but it has now been left aside as there are no certainties around it.

According to the spokeswoman for Chief Minister Andrew Barr, the government has still not decided what it would do about Aquis Entertainment’s unsolicited bid to redevelop the casino. The proposal was submitted in 2015 but, this year, company filings with the stock exchange showed it still needed to secure more money to complete the estimated €205.5 million project.

ACT Gaming Minister Gordon Ramsay had asserted that the local government needed to know the amount of machines the company planned on operating as local authorities were actually planning to cut machine numbers to 4k. That would have 130 licences removed out of circulation should the casino choose to operate 200 machines.

“Cabinet has not yet reached a final position on the unsolicited bid from Aquis,” Mr Barr’s spokeswoman confirmed and asserted: “Currently, the ACT government is awaiting financial information from Aquis which will inform its final position.”