Casino Canberra Will Buy For $ 22.6 Million
Casino canberra will soon be sold to one of the most famous australian owners of michael gu hotels as part of a potential transaction worth 32 million australian dollars ($ 22.6 million). It must be completed in the second quarter of 2019.
Photo source: agbrief.Com
On december 21, at the australian stock exchange, aquis entertainment, the current owner of casino canberra, announced that the implementation agreement with blue whale entertainment, a company owned and controlled by michael gu.
Gu is also the executive director of iprosperity, a private investment company representing asian high-yield investors, which has established itself as a company engaged in the acquisition of large hotels.
As a result of the blue whale transaction will receive an outstanding convertible loan and 137 million shares of the company owned by aquis entertainment canberra holdings. After closing the blue whale transaction, replace ach as a controlling shareholder of the company with a share of 87%.
Michael gu noted that the acquisition will discover the unique opportunity to provide casino canberra more than experience of a new level, and added that he has plans to update the casino, the construction of new restaurts and premium gambling facilities.
In october, remained an open question about the restructioning of casino canberra. Aquis entertainment has experienceed a number of difficulties, which is why the reconstruction decision was postponed.