Hong Kong billionaire Tony Fung to list Canberra casino: reports
Jonathan ChancellorDecember 7, 2020
The Hong Kong billionaire Tony Fung intends to backdoor list his newly acquired Canberra Casino.
It will be done through the rare-earths explorer Discovery Resources, which is changing its name to Aquis Entertainment.
The Australian Financial Review reports a $2 million capital raising at 20¢ per share will take place, giving Tony Fung's company an 89% share in the listed entity.
Fung purchased the Canberra Casino in December last year for $6 million.
It has 39 gaming tables.
Fung is seeking a casino licence at the Aquis Great Barrier Reef Resort.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.