This year, Casino Canberra has fallen on hard times. The venue has been forced to lay off staff and reduce its operating hours due to waning revenue. Owners of the casino hoped that installing pokies would help to boost profits, but another solution has been presented as Tony Fung has expressed interested in purchasing the property.

Mr Fung is a billionaire from China, who is interested in getting involved in Australia’s land-based gambling market. This year, he launched a project to build the Aquis casino resort in Cairns, which is expected to draw even more tourism to the Great Barrier Reef. Now, he has set his sights on Casino Canberra and Cairns’ Reed Hotel Casino.

He has focused on Casino Canberra because it is the only major gambling venue in the country’s capital. As such, Mr Fung sees the property as a significant asset. He aims to improve the venue and make it profitable once again, attracting more visitors to the Australian capital city.

His proposal for the Aquis Casino resort will include nine high-end hotels, a golf course, a lagoon and a stadium. While Mr Fung’s plans for Casino Canberra are not as exciting or luxurious, they will certainly improve the casino’s operations. “We're exploring a lot of different options on how best to utilise the facilities,” he says. Mr Fung is also interested in possibly introducing poker machines onto the casino floor.

While the venue’s existing owners have failed to convince the local government that pokies would be beneficial, Mr Fung may have more success. According to ABC News, the deal has been approved by all parties. The acquisition will take place as part of a $276 million deal that will also in the Reef Hotel and Casino. The deal will go ahead as planned unless another operator provides a better offer.

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.