The CEO of Hong Kong’s Aquis Entertainment Limited has accused the Australian Capital Territory government of leaving it in the dark for 17 months over an AU$330 million Canberra Casino development proposal.
The accusation follows an ultimatum issued by the government earlier this week giving Aquis one month to submit a final proposal or risk losing the opportunity to install up to 200 slot machines in the property.
In a statement posted on the company’s website this week, Aquis CEO Jessica Mellor said that it had received the official request from the government for confirmation of the its intentions in relation to the proposed redevelopment and would respond within the timeframe.
However, she also defended the company, stating, “Aquis lodged the detailed business case for the project in June 2016 and did not receive advice from the government for some 17 months.
“Legislative changes, passed in late 2017, require a thorough process to be undertaken to determine the impact of such significant regulatory and land use restrictions as those imposed. Aquis has advised the government that this process is ongoing, and, as part of that, their input will be required to clarify a number of outstanding issues.
“Aquis remains committed to pursuing the company’s vision of delivering a world class project that will contribute significant urban renewal and economic development benefits to Canberra and will continue to work with the Government to progress their plans.
The government has given Aquis a 14 May deadline to deliver its revised proposal after the company’s original 2015 bid – which centered around permission to operate 500 slot machines on premises – was rejected. Canberra Casino is not allowed to install slot machines under current law.
The ACT government instead announced an in-principal agreement in May 2016 allowing Aquis to run 200 slot machines and 60 electronic table games subject to certain strict conditions.
Canberra Casino, which Aquis purchased for AU$6 million in 2014, announced losses of AU$13.8 million in 2017.
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