Aquis developer wants Reef Casino
The developer of the $4.2 billion Aquis resort and casino at Yorkeys Knob, Tony Fung, has agreed to pay $214 million to take over Reef Casino Trust that owns the Cairns casino.
The biggest share holders of the trust are Casinos Austria and France’s Accor Group, and both have indicated that they would support the proposal that also includes acquisition of the Casino Canberra.
Aquis Great Barrier Reef Resort Group chief executive officer Justin Fung said the casinos would be rebranded as Aquis and focus on Asian customers. “We intend to use the Reef Casino as a training ground for the Aquis Great Barrier Reef Resort for the next five years,” he said.
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