πŸ”₯ Aquis Group - proposed acquisition of the Reef Casino Trust | ACCC

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The developers of a proposed $ billion mega-resort in Cairns will with the Reef Casino Trust (RCT) which owns the Reef Hotel Casino.


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According to The Australian, there has been probity delays and red tape for a collapsed takeover bid of Reef Casino Trust as part of the $ billion Aquis.


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Its related offer for Cairns's Reef Casino Trust hasn't received all the regulatory approvals it needs and β€œwill likely lapse” Nov. 28, Aquis said.


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SummaryThe Aquis Group (Aquis) proposed to acquire the Reef Casino Trust and its associated entities, which own and operate the Reef.


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Tony Fung's Aquis Casino Acquisitions has offered about $ million to take over Reef Casino Trust (RCT), which owns the Reef Hotel Casino.


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The developers of a proposed $ billion mega-resort in Cairns will with the Reef Casino Trust (RCT) which owns the Reef Hotel Casino.


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The directors administering the Reef Casino Trust have urged shareholders to accept a $ million bid from Aquis, saying a superior proposal is unlikely to.


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Shares in Reef Casino Trust, which owns the only casinos in the two casinos in Cairns for Fung's US$8 billion Aquis Resort development.


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The directors administering the Reef Casino Trust have urged shareholders to accept a $ million bid from Aquis, saying a superior proposal is unlikely to.


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SummaryThe Aquis Group (Aquis) proposed to acquire the Reef Casino Trust and its associated entities, which own and operate the Reef.


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SBS Home. News Programs. Topics in News. They're expected to lodge an Environmental Impact Statement with the state government in April or May. A valid email address is required Please provide a valid email address. Sorry, it looks like an error occurred Please refresh the page and try again. A group of 3, Melburnians have been locked down in public housing towers. They've also applied for one of two new regional Queensland casino licences on offer by the state government. But how will authorities manage it? The planned hectare Aquis Great Barrier Reef Resort includes nine luxury hotels, an hole golf course, a 25, seat stadium and a cultural heritage centre. Those in favour of the resort say it will bring much-needed jobs to the region and boost tourism. Please select the editions you would like to sign up to Morning Afternoon Please select at least one edition. Top Stories. Download our free app on the App Store or Google Play for the latest headlines and breaking news alerts. We love feedback: help us improve by rating the app and sharing your suggestions at apps sbs. An Aquis spokesman said the company will apply to extend the Reef Casino licence to include the mega-resort. Mr Fung has said the resort would rival great man-made structures seen in Dubai and Singapore and would attract big spenders from China. The Feed 2 hours ago. Australian exporters seek 'competitive edge' as Indonesia trade deal comes into effect. Sign up now for the latest news from Australia and around the world direct to your inbox. News to your inbox Sign up now for the latest news from Australia and around the world direct to your inbox.{/INSERTKEYS}{/PARAGRAPH} Your Email Address Subscribe. The Reef Hotel Casino and Casino Canberra takeover bid is expected to take up to nine months and won't affect staff numbers at either casinos. Follow SBS News to join in the conversation and never miss the latest live updates. Sorry, it looks like an error occurred. Locals have raised concerns the project won't withstand a cyclone, will increase problem gambling, may damage the Great Barrier Reef and could hurt the region's nature-based tourism industry. {PARAGRAPH}{INSERTKEYS}Thank you for signing up. The company is hopeful the Cairns sale will improve its chances of acquiring a casino licence for its proposed mega-resort at Yorkeys Knob near Cairns. The trust's board has unanimously supported the takeover offer. Skip to content Primary Navigation Show menu Hide menu. Follow SBS News. The developers have signalled they will only push forward with the project if the resort is granted a casino licence. Breakdowns, calls, deliveries: How communities in Flemington and North Melbourne are responding to lockdown.