The new Aquis Casino Resort is going to be a huge boon to the Australian economy, bringing in valuable tourism dollars that will be shared across a wide range of industries. However, there is the potential for the new property to reduce competition in the hospitality market, and the Australian Competition & Consumer Commission (ACCC) aims to get to the bottom of these concerns.

Part of Aquis’ plans to build a new resort property includes the construction of eight hotels and two casinos. If Aquis does not purchase the existing Reef Hotel Casino, there are concerns that it will cannibalize its business. Currently, the Reef Casino hosts 38 table games, over 500 pokies, a VIP room, TAB facilities and Keno while the Aquis wants to have a total of 750 table games and 1500 pokies.

With regards to non-gambling facilities, the Reef Casino hosts a convention centre, restaurants and bars while Aquis Casino will have two theatres, a sports stadium, a golf course, an aquarium and a cultural heritage centre. It will certainly be a much larger venue, and it may reduce competition in the local market.

“The ACCC is considering the proposed acquisition under section 50 of the Competition and Consumer Act 2010 (the Act). Section 50 of the Act prohibits mergers and acquisitions that substantially lessen competition in a market, or are likely to do so,” reads the ACCC’s submission form. “The ACCC is seeking comments from market participants and interested parties to assist with its review of the proposed acquisition”.

The submission form asks a total of ten opinion-based questions that aim to obtain a better understanding of local competition in Cairns gambling market. They include questions about the likelihood that the Aquis Casino will be developed, the extent of Reef Casino’s competition with other venues and whether or not Aquis and Reed Casino will compete effectively with one another.

Residents and gaming industry professionals who wish to voice their opinions can obtain a submission form at: http://registers.accc.gov.au/content/index.phtml/itemId/1167073/fromItemId/750991. Submissions are due by 1 May, 2014.

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.