Aquis reveals USD 235M Canberra Casino revamp

Plans for the A$330m (USD 235M) redevelopment would turn the facility into a state-of-the-art integrated resort that would grow Australia’s capital into an international tourist market.

Canberra CasinoTalks are currently underway with the government and community stakeholders in relation to the proposal. The integrated resort would include VIP and mass market gaming facilities, six-star villa accommodation and a five-star hotel. It would also include cafes, restaurants, bars and retail. The project would require a two-year build time and could open by 2018.

“We saw the potential here. We saw what Canberra has to offer and, not only that, what it was lacking and how we could fill that void. We have had some economic analysis done on this project that has said we would increase tourism to the region by over 700,000 people a year,” remarked Justin Fung, Aquis Executive Director.

But a major part of the investment hinges on the local government lifting the current ban on slot machines at the casino. Chief Minister Andrew Barr explained on Wednesday that it could take months or even years to change policy that only allows slots at clubs in Canberra, but he welcomed the request as part of the unsolicited proposal to the government.

“It’s a significant issue that will need to be worked through,” remarked Barr. “That’s why I’m not making an announcement one way or another today. Canberra is growing up; our city is changing and our economy is much bigger. There’s no change in government policy at this point but nor am I signalling a blanket no.”

As Aquis waits for the necessary approvals, it suggested slot machines could be acquired through a trading scheme that exists among the clubs in the state. “A lot of clubs believe they have too many machines and are looking to sell,” said Fung, adding that the resort would generate up to 200 construction jobs and employ about 420 people once operational.