🖐 Tony Fung Hits Snag in Australia Gambling Plans - WSJ

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Hong Kong property developer Tony Fung Wing-cheung's plans to take over Australia's Reef Casino Trust are in doubt after the Queensland.


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Hong Kong billionaire Tony Fung has bid for the Cairns casino and its does not anticipate any issues that will affect the acquisition of Reef Casino Trust,'' said.


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Tony Fung's Aquis Casino Acquisitions has offered about $ million to take over Reef Casino Trust (RCT), which owns the Reef Hotel Casino.


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Tony Fung's Aquis Casino Acquisitions has offered about $ million to take over Reef Casino Trust (RCT), which owns the Reef Hotel Casino.


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Hong Kong billionaire Tony Fung has received Foreign Investment Review Board approval to purchase farmland outside Cairns for his $ billion casino and.


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HONG Kong investor Tony Fung's multibillion-dollar bet on Australia's gambling industry has hit a snag, after Australian regulators voiced.


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Tony Fung's Aquis Casino Acquisitions has offered about $ million to take over Reef Casino Trust (RCT), which owns the Reef Hotel Casino.


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HONG Kong investor Tony Fung's multibillion-dollar bet on Australia's gambling industry has hit a snag, after Australian regulators voiced.


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SYDNEY, Nov 13 (Reuters) - Chinese tycoon Tony Fung has offered to pay A​$ million ($ million) to buy Reef Casino Trust, which owns the only casino in.


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HONG Kong investor Tony Fung's multibillion-dollar bet on Australia's gambling industry has hit a snag, after Australian regulators voiced.


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Aquis said it was still committed to being a major investor in Cairns and far north Queensland, and was continuing its work in progressing the resort development at Yorkeys Knob. Aquis said if the state government made a decision soon on whether to grant regulatory approval, it may reconsider a takeover of RCT in But any new offer would have to be negotiated with RCT, and the trust's main stakeholders - Casinos Austria and Accor. Therefore, the offer is likely to lapse. He also wants to build a six-star casino and resort at Yorkey's Knob, 15km north of Cairns. However, the purchase of the Reef Hotel Casino was an important part of its development plan for the resort. Billionaire Tony Fung's plans to build world's biggest hotel in Cairns put on ice.

A Hong Kong billionaire has put on hold plans to buy a casino in Cairns and build a nearby resort amid regulatory delays.

The Sydney Morning Herald. The news sent RCT shares plummeting by more reef casino trust tony fung 30 per cent in morning trade. The offer expires on November 28, and Aquis says it will not extend it. Aquis is also proposing to buy Casino Canberra from Casinos Austria.

But Aquis on Monday said Queensland's Office of Liquor and Gaming Regulation was unable to meet a November 28 deadline for a decision on whether to grant regulatory approval for the proposed takeover. Canefields and casinos: Cairns at a crossroads Meet the Fungs: The family behind the casino A Hong Kong billionaire has put on hold plans to buy a casino in Cairns and build a nearby resort amid regulatory delays. Aquis and Casinos Austria have agreed that the deal would no longer be conditional upon the takeover of RCT.