Friday, June 13, 2014

Aquis: meanwhile inside the circus tent

My local RSL on the Cairns Esplanade may have been more modernly refurbished recently but retains the quaint practice in Cairns of providing free hardcopies of the Courier-Mail for members and visitors. There was an interesting item noted in today's CityBeat column:

THE constant references in the media to “new casinos” in Cairns and on the Gold Coast has the senior staffers in Deputy Premier Jeff Seeney’s office in a spin.
Not only have casino licences not been granted to the successful tenderers of new “integrated resort developments” at the sites, the word from George Street is developers Aquis and ASF Consortium are probably unlikely to get a licence without a suitable “partner”.
A "suitable partner"? Now what could that mean? What's that skip?

All is revealed at 0.55:

Note: CityBeat is currently being edited by @johnsmccarthy who is well worth a follow on twitter for regional Queensland news and analysis.


  1. It's what we at Hillbilly Watch have been saying since day dot on this deal. Having a pocket of cash (which so far has been kept "out of view") isn't enough for a casino license, even in Joh Bjelke Newman's Queensland. One of the main casino players is going to be a required element - and the selection of this partner will be the most significant issue to be examined.

  2. The "ASF Consortium" granted approval for their Gold Coast proposal is also interesting. ASF Group is listed on the ASX with substantial holdings by Chinese interests. Net assets in the last annual report were somewhere around $12 million and mostly in mining. Strategic Chinese partners get a mention in PR but mostly construction partners and zero experience in either tourism or casinos.

    Which basically means that so far multi - billion dollar integrated resort developments have been granted by the Queensland Government to AFS with net assets of $12 million and Aquis with net assets of $1 held by Tony Fung?