Bidding war heats up for Aquis’ Casino Canberra

July 7, 2022 Philippines Industry Updates

Aquis Entertainment said the third-party seeking to trump a bid by Capital Leisure for its Canberra casino is Iris CC Holdings, which has now offered $60 million.
Aquis announced in May that it was selling off its main operating asset for $52 million to Capital Leisure, which is owned by interests associated with the Oscars Group.

In a statement to the Australian Stock Exchange, Aquis said Capital Leisure had upped its bid to $58.2 million following the emergence of another bidder.

That bidder – Iris – is now offering the higher price of $60 million.

The Iris Capital proposal also includes a break fee of $1 million payable by Aquis if the operator accepts a superior proposal.