Aquis Entertainment 2021 profit drops 71%, but pushing ahead with future plans

Aquis Entertainment, casino canberra

Aquis Entertainment, the operator of Casino Canberra, reported 2021 profit fell 71 percent, but said it was optimistic about the future outlook and will pick up its plans for its future development as the Omicron wave eases.

The company posted a profit attributable to the owners of the company of $230,796. Total revenue from operations rose 33 percent to $25,184 as the casino was less heavily impacted by Covid than during the prior year.

Aquis said the casino was closed for 2.5 months in 2021 from August 12 to October 28 while in 2020 it was shuttered for 4.5 months from late March to August 9. 

“The directors are confident in the outlook for Aquis,” the company said in a stock exchange filing. 

“…as the Omicron outbreak eases and operations stabilize, focus will again return to future plans for redevelopment and discussions surrounding the details of the legislated requirements for the EGM’s to enable planning for the future,” it said, referring to legislation passed in 2018 to allow 200 electronic gaming machines within the casino.

Aquis had said in March last year that it was planning to restart talks on the redevelopment of the casino before being forced to pause again on the next Covid wave.