Aquis given one month to progress Canberra redevelopment

The company behind the A$330 million (US$256.4 million) expansion of Casino Canberra has been given one month to finalize its proposal, the Canberra Times reports.

Last week, the ACT government wrote to Hong-Kong based Aquis Entertainment, giving the company until May 14 to progress its bid to rebuild the casino.

The proposed plans for Canberra Casino includes the creation of a one six-star ultra high-end hotel and a 100-suite five-star property extending to six storeys, which is expected to attract almost an extra 750,000 visitors to Canberra a year including high-end Chinese gamblers.

The project also includes new bars, cafes and restaurants and promenade-style shopping possibly featuring luxury brands such as Chanel, Gucci and Louis Vuitton, a first for Canberra.

However, Gaming Minister Gordon Ramsay revealed the company had gone cold, after the government changed the ACT's gambling laws to allow the casino to have poker machines, with conditions.

The ACT Legislative Assembly passed a law last year to only allow the casino to operate 200 poker machines and 60 fully-automated table games, limit punters to $2 spins and a install a mandatory pre-commitment scheme.

Ramsay said the government’s support for Aquis operating poker machines hinged in its redevelopment of the casino precinct, but had not yet received "critical information required for the process to move forward."

An Aquis spokesperson said the company was still interested in pursuing the redevelopment.

More news from this jurisdiction

AustraliaTuesday, Apr 17, 2018

Daily fantasy sports platform, DraftKings, said it will begin offering DFS contests to Australian consumers from Q2.

AustraliaMonday, Apr 16, 2018

Sports fantasy and betting business PlayUp is eyeing a listing on the ASX and Nasdaq, after a string of acquisitions in the Australian fantasy sports and wagering sector.

AustraliaThursday, Apr 12, 2018

Daily fantasy sports operator PlayUp has acquired DraftStars from Australian wagering operator CrownBet.

AustraliaThursday, Mar 29, 2018

Star Entertainment Group has announced it has expanded its strategic partners and will be raising A$490 million (US$375.2 million) from two of its Hong Kong-based partners, Chow Tai Fook and Far East Consortium.

AustraliaWednesday, Mar 21, 2018

Billionaire James Packer has stepped down from the board of Crown Resorts citing mental health problems.

AustraliaFriday, Mar 16, 2018

From March 30th, most television channels in Australia will be banned from showing gambling ads during live sports events between 5 a.m. and 8.30 p.m.

AustraliaMonday, Mar 12, 2018

Proposed changes to NSW slot machine laws could increase the number of machines in high-risk areas and increase gaming industry profits by A$80 million ($62.9 million) a year, say opponents.