In Australia and kasino operator Aquis Pertunjukan Limited has reportedly asked that trading in its shares be temporarily suspended so as to give it more time to consider a second bid for its Kasino Canberra properti.
According to a Monday report from Asia Gaming Brief, the Sydney-listed firm agreed a provisional setuju in May to offload the 38,750 sq ft venue to a subordinate of local hospitality giant Oscars Hotels Australia Proprietary Limited for approximately $35.85 million. The source explained that this sharing purchase arrangement also contained a clause that was to have seen the seller receive some $2.06 million in kontan in order to help it meet an unspecified number of kasino regulatory requirements.
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However, the Canberra-headquartered operator has now reportedly revealed that it is considering a new bid from an unnamed third party complete with a price that is ‘materially higher' than was earlier offered by Sydney-headquartered Oscars Hotels Australia Proprietary Limited. The seller had previously purportedly declared that it intended to use the proceeds from any sale to repay debts, pursue other business opportunities and potentially distribute as much as $22 million to its shareholders.
Redevelopment reversal:
Aquis Pertunjukan Limited reportedly spent just over $5 million so as to purchase the ageing Kasino Canberra in 2014 before submitting plans the very next year that were to have seen the venue transformed lewat the addition of luxury shops, high-end restorans and two hotels alongside a revitalized gaming floor offering up to 500 slot. But, this rencana was ultimately denied in December of 2018 purportedly owing to regulatory uncertainty and financing issues in addition to local laws that forbid the enterprise from operating that many slot.
Considered concession:
Faced with the real possibility that Aquis Pertunjukan Limited would shutter the only kasino in Canberra and the local government reportedly countered by proposing a compromise setuju that would have allowed the firm to bring in 200 slot and 60 elektronik gaming machines under strict regulatory guidelines. Nevertheless, the operator balked at this suggestion and almost immediately began looking for a new firm to take over its running of Kasino Canberra.
