Casino Canberra sold for $43 million

Iris Capital managed to acquire Casino Canberra for 42 million US Dollars from Aquis. The final price that was agreed upon was $2 million higher than Iris Capital´s opening bid. Also, it is almost $3 milion higher than the price that The Oscar Group offered for the casino last month. However, the sale still waits regulatory approval from the NSW-government.

Casino Canberra is a casino in the centre of Canberra which provides the players with a variety of casino games such as Poker, Roulette and Blackjack. Moreover, coming September they will reopen their Poker Pit in which they offer a variety in pokergames.

• No Limit Texas Hold “Em
  • 2/3 blinds / $100-$500 Buy-In (rake at 10%)
• Half Pot/Full Pot 7-Card Stud
  • $5 Blind – $200 minimum Buy-In
• Pot Limit Omaha
  • 1/2 blinds / $200 – unlimited Buy-In
• Fixed Limit Manila
  • 5/5 – 10 Optional – $200 minimum Buy-In
• Faro Poker
  • 5/5 – 10 Optional – $200 minimum Buy-In

Besides the Poker Pit, Casino Canberra also has a Sportsbar with sportgames being showed on a large television screen. Which is a perfect place for the sportsbetting fans.

Casino Canberra operates all popular casino games. However, the casino does not hold a license to operate gambling machines of casino slots such as pokies. When Aquis acquired Casino Canberra in 2014, it had plans to ask permission to install up to 500 slot machines. However, it never received such permit. In 2019 it received a license for just 200 slot machines.

Whether the deal will be finalized or not is still unknown. All parties will have to approve the deal before it can get a final approval. “The board of Aquis is undertaking a review as to the best use of the sale proceeds, including assessing alternative business opportunities, repayment of debt, and a potential distribution of funds to shareholders. ” a spokesperson from Aquis said.