Posted on: July 5, 2022, 07:05h.
Last updated on: July 5, 2022, 07:48h.
Hong Kong-based Aquis Entertainment has received a surprise offer from a mystery bidder to acquire its Australian property, Casino Canberra.
The latest approach triggered Aquis to request a trading halt of its shares on the ASX while it considers the new proposal.
Last month, the company announced it planned to sell the casino to Capital Leisure, a subsidiary of Sydney-based hospitality company Oscars Group, for AU$52 million (US$36 million).
In a statement to the ASX, Aquis said the competing proposal had been followed by a revised offer from Capital Leisure. Both were at “materially higher prices to that agreed in the original agreement with Capital Leisure.”
The identity of the competing bidder has not been publicized, although more details about the proposal are expected to be revealed this week.
Government Impasse
Aquis, controlled by Hong Kong billionaire banker Tony Fung, has been trying to sell the Casino Canberra for some time.
It acquired the ailing property in 2014. That was at the same time Fung was seeking approval for a controversial proposal to build a A$8…
