Monday, November 24, 2014

Aquis circus caravan keeps rolling along ......

Clowns to the left, jokers to the right, and .......

Statements on Aquis from the Office of Liquor and Gaming Regulation, Michael Trout MP and Gavin King MP:

The nature of probity investigations is complex and intrusive and the length of any investigation is critically dependant on the availability of information and the cooperativeness of the applicant.
To date important information remains outstanding from ...Aquis.
While legislation governing investigations of this nature is different in both states, it should be noted the OLGR is conducting the investigation jointly with the ACT regulator.
On finalisation of the investigation each jurisdiction will form its own conclusions having regard to its statutory requirements.
It is also important to note that the proposed interstate purchase is for $6 million compared to the proposed Queensland purchase price of around $260 million. The monetary value is of significance to the OLGR given the investigation must consider the financial viability of the applicant.
The probity investigation is in its final stages and Aquis has been made aware of the outstanding matters to bring the investigation to a conclusion.
The Aquis investigation is being conducted in accordance with well established and internationally recognised principles. Its proper completion is critical in underpinning the strength and reputation of the casino regulatory environment in Queensland. This has been a key requirement in the Queensland casino legislation since the Casino Control Act was passed in 1982. The Queensland Government will not compromise the integrity of the probity process.
It is not appropriate at this point of the investigation to comment about findings.

We want development to happen and we welcome new investment opportunities, but we also want Cairns to be a safe environment to raise a family.
We will not apologise for having a very strict and stringent probity process on any new casino operator.
I welcome the news that the Fung family is committed to the Aquis project at Yorkey’s Knob.

We support the Aquis project, but not at any cost. Due process must be followed and we stand by the rigorous probity requirements.
If Aquis had extended its offer for the Reef Casino for another month it is my belief that the probity process would have been completed by Christmas, the same timeframe as indicated by the ACT Government.
Aquis has requested that the government continues the probity process, however there is still outstanding information from Aquis and answers being sought by OLGR and I urge Aquis to provide them as soon as possible.

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