Fung wants to add poker
Hong Kong-based Aquis Entertainment says it plans $300 million in improvements to its recently acquired property in Canberra, the capital city of Australia. A new casino, restaurants, retail and entertainment venues could bring an extra 750,000 visitors to Canberra each year, the company says—including those all-important Chinese high rollers.
The project should add more than 400 new permanent jobs and several hundred construction jobs, and add more than $60 million a year in taxes for the government, reported the Canberra Times.
The site will include two hotels—a “six-star, 12-story tower targeting high-rollers, luxury tourists and even visiting heads of state and other dignitaries,” the publication reported. The other will include 100 suites in a 15-story tower. High-end retail brands such as Chanel, Gucci and Louis Vuitton are expected to sign on for the retail quarter.
“We’ve been very confident in the Canberra market for some time now,” said Aquis Managing Director Justin Fung. “The reason we acquired Casino Canberra was because we saw the potential here for growth in domestic tourism and international tourism here, so this was really a natural next step for us.”
He said the proposal will bring “true international VIP gaming” to the Bush Capital, even though Casino Canberra does not have poker machines—yet. Fung says that should change in the future.
“It would be very difficult for us to build or to market a property that only offered a fraction of the offerings of our competitors. It wouldn’t be fair to the Canberra market and it would be a pretty difficult situation for us as well,” he said. “We’ve submitted our unsolicited bid. We’re looking to start that dialogue to determine what exactly we can or cannot build or can or cannot incorporate into the property.”
The company has asked the ACT Government to overturn a ban on poker machines at the casino; currently poker is restricted to not-for-profit operators, according to ABC Online. ACT leader Jeff House said the rules should not be changed.
“It’s certainly been seen … as a line in the sand, (though) it seems that those sands are shifting a little bit,” he said. “The casino would have to successfully negotiate with clubs to buy the machines they are looking to operate. For this proposal to come to fruition, the licenses … would have to be amended by the assembly. It would have a significant impact on clubs; the experience in other states is that clubs within a certain radius to the casino simply close.”
But Andrew Barr, ACT chief minister, is singing a different tune. Barr said he “won’t rule out” legalizing poker at Casino Canberra, though the change could take time to implement. “There’s no change in government policy at this stage, but nor am I considering a blanket, “No, we won’t even consider what has been put forward.’ Of course we’ll look at the details of the proposal. It’s a significant issue which needs to be worked through, which is why I’m not making a decision today.”
The project is set for completion in 2018, according to ABC Online.
