Billionaire Tony Fung has been given the go ahead to build his Aquis Casino Resort in Cairns. He has recently announced his plans to list his development company, Aquis, on the Hong Kong Stock Exchange to help fund the construction of the $8 billion casino resort. According to the Sydney Morning Herald, Mr Fung has not yet confirmed how much money he aims to raise by listing his casino on stock market.

Aquis will also be competing with other big players on the Hong Kong stock exchange in the gambling market, such as Melco Crown. However, he believes that he will be quite successful if Aquis can demonstrate its ability to earn money as a gambling venue.

“In the next two or three years, if we can bring ourselves an EBITDA of $80 million, the chances of us getting it financed without me giving up too much equity would be very high,” he says. While the Aquis Casino Resort presents itself as a high-end tourist attraction for visitors from around the world, investors are dubious about Fung’s ability to operate a casino.

Across Australia, there is a great deal of competition in the gambling – especially as more casino operators start competing for high rollers from Asia. So, Tony Fung will have to work hard in order to prove himself and make a successful performance on the Hong Kong stock exchange.

The new casino complex will be an all-encompassing property that will feature a high-end casino, theatres, convention centres, shopping centres, and a golf course. It will also offer up over 7000 luxury hotel rooms. The entire venue will be built on platforms above lagoons in the area.

The construction will take 10 years to complete, and the complex will create 7250 jobs for local residents.

About the Author

George Anderson
Author George, has over 25+ years’ experience in the Pokies and Casinos industry throughout Australia and New Zealand. Loves to research new Pokies games on the block and follows announcements from top industry providers about their upcoming releases. As soon as a new interesting pokie game appears on his radar, George is there to check it out and give you the scoop before anyone else and tell you about all casino sites where can play the latest game. Before this gig, George worked as Pokie game tester, making him an ideal candidate for this genre of work. He is also an animal lover and a proud owner of three dogs.