💰 Casino Canberra sale falls through | The Canberra Times | Canberra, ACT

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Blue Whale unveiled plans in December to buy the casino, in a complicated transaction that would see it become the majority shareholder in the companies that own and operate the venue, Aquis Entertainment Limited and Casino Canberra Limited. Its challenges were laid bare in an Aquis-commissioned report in , which noted Casino Canberra had one of the smallest gambling turnovers in the country and was the only Australian casino not allowed to operate poker machines. This would include "consideration of any new businesses opportunities which may arise", the statement read. It was not known what ultimately caused the deal to fall through. Greens leader Shane Rattenbury, who struck the deal with Labor to only allow poker machines in any redeveloped casino, had little sympathy for the casino or Blue Whale. But laws passed in the ACT Legislative Assembly in late limited that number to machines, along with 60 fully-automated table games. Home News Business. Opposition gaming spokesman Mark Parton pinned some of the blame on the government.{/INSERTKEYS}{/PARAGRAPH} Aquis said the business remained viable, cash positive and the "board looked forward to seeing further improvements in the future". Ms Mellor never specified which parcel of land the government had withheld. The sale's collapse is the latest chapter in the casino's challenging recent past. In the case of a corporation, that assessment extends to each executive officer and influential person within the entity. Blue Whale unveiled plans in December to buy the casino , in a complicated transaction that would see it become the majority shareholder in the companies that own and operate the venue, Aquis Entertainment Limited and Casino Canberra Limited. I ts challenges were laid bare in an Aquis-commissioned report in , which noted Casino Canberra had one of the smallest gambling turnovers in the country and was the only Australian casino not allowed to operate poker machines. The statement said following the deal's collapse, the board would revise their company's plans to ensure it continued to grow. The casino's original expansion plan did include redeveloping a parcel of land in Glebe Park, which the government bought in controversial circumstances in September The Canberra Times in June reported the casino's current owners had contacted the ACT government wishing to re-start talks about an expansion , with Ms Gallaugher saying the group was committed to pursuing the upgrade. The Canberra Times in June reported the casino's current owners had contacted the ACT government wishing to re-start talks about an expansion, with Ms Gallaugher saying the group was committed to pursuing the upgrade. The casino had wanted permission to operate poker machines as part of the deal to revitalise the precinct. Blue Whale owner Michael Gu, through his company iProsperity, has also been contacted for comment. Aquis Entertainment Limited on Wednesday announced a long-awaited deal to transfer ownership of the casino to Blue Whale Entertainment had been terminated. Blue Whale also spruiked interest in upgrading the casino once the sale was approved. At the time, then Casino Canberra boss Jessica Mellor said new gambling laws and government decisions "not to make certain land available" had made it difficult to progress the proposal. Casino Canberra. {PARAGRAPH}{INSERTKEYS}The sale of Casino Canberra has fallen through, casting a cloud over the venue's immediate future. The announcement came less than a fortnight after the ACT government knocked back Aquis' controversial, unsolicited proposal to redevelop the casino precinct with luxury hotels, high-end shopping outlets, bars, cafes and a convention centre. In a statement, an ACT government spokesman said Blue Whale had not provided the commission with the "required information" and, as result, the assessment was not completed. Under ACT gaming laws, anyone who wants to buy the casino must undergo a probity assessment before the minister will approve the sale. In a statement to the Australian Stock Exchange, Aquis said it had attempted to extend the deadline for the deal to be completed, but an agreement could not be reached.