May 17, 2021
In Australia and the Chairman for Aquis Entertainment Limited has reportedly told investors that his firm continues to be interested in redeveloping its Casino Canberra property via a proposed makeover that could run to as much as $256 million.
According to a report from Inside Asian Gaming, the revelation came from Tony Fung Wing-Cheung during a conference call with investors to discuss his company’s latest annual financial results. The source detailed that the Sydney-listed enterprise is now planning to reengage with the Labour-led government for the Australian Capital Territory in hopes of ultimately being given permission to refresh the 26-year-old property.
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Government Regulation And The Stock Market
The companies that live or die with the stroke of a regulatory pen
By Tim Boreham, Editor, The New Criterion
Deep in any corporate vault lies a piece of paper or two that affirms the right of an enterprise to operate, such as articles of incorporation, a banking or broadcasting licence or a mining permit.
Apart from diligent company secretaries, no one else will give the paperwork a second thought. But when this right to operate is threatened, the anxiety level quickly rises.
Nothing exemplifies the dangers more than the stricken
Crown Resorts ((CWN)), which faces a crucial NSW decision on whether it should hold the right to operate Sydney’s second casino. The Independent Liquor and Gaming Authority has deemed the Packer-linked entity to be not suitable, but it’s up to Macquarie Street to decide.
Intrigue surrounds a sudden unexplained rush on shares in casino owner Aquis Entertainment, with the price rocketing as much as 3180 per cent in a week.