• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 9 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Fung Bids for Two Australian Casinos

Newsdesk by Newsdesk
Wed 26 Feb 2014 at 01:53
1
SHARES
22
VIEWS
Print Friendly, PDF & Email

Hong Kong billionaire Tony Fung, who made headlines last year with plans for a massive casino complex on Australia’s Great Barrier Reef, has added the country’s Casino Canberra to a bid announced last year for the Reef Casino in the northern Queensland city of Cairns, not far from Mr Fung’s proposed Barrier Reef site.

Mr Fung’s Aquis Casino Acquisitions will spend A$270 million for Reef Casino Trust, the latter’s ownership entity, whose partners include Casinos Austria International and hotel giant Accor, and the Canberra property in the Australian Capital Territory southwest of Sydney at the other end of the continent. Casino Canberra is also controlled by CAI.

The Reef Casino board has already recommended shareholders approve the offer. Ninety percent must approve for the takeover to go through. Regulatory approvals and other conditions will also have to be met.

Mr Fung’s plans for his 750-acre, $4.2 billion Aquis Resort at The Great Barrier Reef include five hotels, a casino with 1,500 slot machines and 750 table games, more than 1,300 apartments and luxury villas, a golf course, a 25,000-seat sports stadium, high-end retail, a man-made lake and reef lagoon and one of the world’s largest aquariums.

Wealthy Asians, particularly high rollers from China, are the target market.

He’d like to open by 2018 and says the complex will create more than 26,000 jobs when it’s fully operational, which has the government of Queensland reviewing the proposal with considerable interest, according to reports.

RelatedPosts

Star performers? A question of executive remuneration

Queensland government defers decision on suspending The Star Gold Coast’s casino license until March

Sun 8 Dec 2024 at 07:25
Star Entertainment Group introduces paid leave for staff volunteering with emergency services amid Australian bushfire crisis

Restrictions on cash use and playing time among latest casino regulatory revisions passed by Queensland state parliament

Thu 21 Mar 2024 at 21:06
Star performers? A question of executive remuneration

Queensland introduces new casino bill requiring mandatory carded play, cash and spend limits

Thu 26 Oct 2023 at 05:28
Crown down but Star not ruling out junkets

Star fined AU$140,000 for accepting credit card deposits, marketing to excluded persons

Wed 2 Aug 2023 at 18:13
Load More
Tags: Aquis ResortCasino CanberraQueenslandReef CasinoTony Fung
ShareShare
Newsdesk

Newsdesk

Current Issue

Editorial – Knife’s edge

Editorial – Knife’s edge

by Andrew W Scott and Ben Blaschke
Tue 29 Apr 2025 at 15:14

Thailand’s Entertainment Complex journey is at a critical point, with the success or failure of the initiative to be determined...

The changing face of Macau

The changing face of Macau

by Ben Blaschke
Tue 29 Apr 2025 at 15:09

Inside Asian Gaming takes a deep dive into the new, post-COVID Macau where a revenue environment that seems to be...

Born again

Born again

by Pierce Chan
Tue 29 Apr 2025 at 14:47

Premiering in September 2010 at City of Dreams, The House of Dancing Water was a visionary creation by artistic maestro...

Richard Howarth – Testing the limits

Richard Howarth – Testing the limits

by Ben Blaschke
Tue 29 Apr 2025 at 13:17

Richard Howarth, Chief Business Officer APAC for global testing laboratory GLI, discusses his career journey and his passion for fast-paced...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Galaxy Macau to host 2025 Annual Conference of the FIA – world motorsport’s governing body

Favorable VIP hold pushes Galaxy Entertainment Group’s 1Q25 profit to US$412 million

by Ben Blaschke
Thu 8 May 2025 at 14:03

Macau’s Galaxy Entertainment Group (GEG) reported total net revenue of HK$11.2 billion in the first three months of 2025, including gross gaming revenue of HK$10.9 billion (US$1.36 billion) – up 13.6% year-on-year although slightly lower than the HK$11.0 billion (US$1.38...

Solutions Showcase: Angel – Tech Minded

Baccarat side bets now contribute close to 50% of Macau baccarat revenues

by Ben Blaschke
Thu 8 May 2025 at 13:32

Baccarat side bets now contribute between 45% and 50% of Macau’s gaming revenues, representing a generational shift in player preferences thanks to the deployment of smart gaming table technology. Stakeholders told IAG that such side bets previously comprised only a...

House of Dancing Water returns to City of Dreams Macau with spectacular premiere

House of Dancing Water returns to City of Dreams Macau with spectacular premiere

by Pierce Chan
Thu 8 May 2025 at 11:11

After a five-year hiatus, City of Dreams’ epic production House of Dancing Water held its premiere on Wednesday 7 May ahead of an official opening to the public on Friday. The newly reimagined resident show is produced by Giuliano Peparini,...

Grand Korea Leisure extends casino closures until 15 February

Grand Korea Leisure’s casino revenues up to US$26 million in April

by Newsdesk
Thu 8 May 2025 at 07:03

Foreigner-only casino operator Grand Korea Leisure reported casino revenue of KRW36.2 billion (US$25.9 million) in April, up 11.5% year-on-year but down 12.7% compared with March. GKL’s casino revenue comprised an 11.7 % year-on-year increase in table revenue to KRW32.9 billion...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English