Written By Carla Harris
Canberra Casino will soon be backdoor listed through Namibian oil and gas explorer Discovery Resources. Discovery will change its name to Aquis Entertainment after giving approximately 89% of the shares to the Hong Kong gaming magnate, Tony Fung.
Mr Fung bought Canberra Casino for $6 million in December last year, complete with 39 gaming tables, two bars and licence fees that have been prepaid for five years. He also announced plans to upgrade his newly acquired casino in hopes of luring international and domestic gamers who are higher-spending than what Canberra is used to.
Experts reckon that this small move could be the start of major plans for Canberra Casino. Pat Flanagan, Aquis Barrier Reef Resort project manager, said in a statement that the “proposed listing of Aquis Entertainment Group is an important milestone in the future development of the Canberra Casino”. He also stated that the proposed listing relates exclusively to Canberra Casino and doesn’t have any immediate impact on the plans or ownership for the Aquis Great Barrier Reef Resort, where Mr Fung is waiting on a gaming licence.
If there are any changes in the relationship between Aquis Entertainment and Aquis Great Barrier Reef Resort, the public will be informed at the appropriate time.