🤑 Tony Fung Hits Snag in Australia Gambling Plans - WSJ

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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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SYDNEY--Hong Kong-based property tycoon Tony Fung made a takeover offer for Reef Casino Trust (pterophyllum.ru), sending shares in the Australian casino.


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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 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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Mr. Fung's Aquis Reef Holdings in February agreed to acquire Reef Casino Trust, which owns a casino near the Great Barrier Reef, for


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Tony Fung's $B ($B) Aquis resort and casino project has take over Reef Casino Trust, and received the backing of the company's two.


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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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Mr. Fung's Aquis Reef Holdings in February agreed to acquire Reef Casino Trust, which owns a casino near the Great Barrier Reef, for


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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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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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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 and Casinos Austria have agreed that the deal would no longer be conditional upon the takeover of RCT. Billionaire Tony Fung's plans to build world's biggest hotel in Cairns put on ice. The news sent RCT shares plummeting by more than 30 per cent in morning trade. Aquis is also proposing to buy Casino Canberra from Casinos Austria.{/INSERTKEYS}{/PARAGRAPH} 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. The Sydney Morning Herald. He also wants to build a six-star casino and resort at Yorkey's Knob, 15km north of Cairns. 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. The offer expires on November 28, and Aquis says it will not extend it. Therefore, the offer is likely to lapse. {PARAGRAPH}{INSERTKEYS}A Hong Kong billionaire has put on hold plans to buy a casino in Cairns and build a nearby resort amid regulatory delays. However, the purchase of the Reef Hotel Casino was an important part of its development plan for the resort. 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.