Australia CHICAGO Online reports, the Australian betting industry is attracting more and more investment into China's president Aquis Group Hong Kong billionaire Tony FUNG (Justin Fung) for Cairns Casino Acquisitions worth 269 million Australian dollars to obtain substantive progress in the yesterday, indicating that the establishment of an integrated resort center contains a casino sit worth A $ 4.2 billion plan in the city's northern beaches forward towards reality.
ACB News "Macao CHICAGO Online" reported: Australian betting industry is attracting more and more investment into China, Hong Kong billionaire Aquis Group CEO Tony FUNG (Justin Fung) for the Cairns casino worth A $ 269 million takeover yesterday to get the substance progressive, indicating that it plans to build a ride that includes a casino worth A $ 4.2 billion integrated resort real move forward in the city's northern beaches.
Cairns is currently the only casino Reef Casino Trust (ASX: RCT) 's Reef Hotel Casino complex, the exclusive operating license had expired a few years ago it launched last November Tony FUNG acquisition, then entered the due diligence phase. The two sides formally signed yesterday the acquisition of program implementation agreement, the purchase price of A $ 4.354 per trust unit, compared with the closing price of the acquisition of RCT proposal announced on November 12 last year, a premium of 53.3% before.
Earlier, Feng worked in project official website published an open letter confirmed that the state government has submitted a letter of intent, in North Beach Yorkeys Knob develop tourism real estate projects, including a large casino and leisure complex .Reef casino project will be acquired included Aquis can play a synergistic effect, attract more international tourists to revitalize the local economy, bringing greater well-being of employees and local communities.
In fact, long-awaited Aquis project, ACB News "Macao CHICAGO Online" has reported, in September 2012 Tony FUNG call option 750 hectares of land north of Cairns, paving the way for completion of the project will enhance .Aquis resorts attract Queensland competitiveness of Chinese tourists to enhance the state's tourist market in China's market share (details).
Statistics show that a decade ago to Dakoun state the number of Chinese tourists is still small, but recently, Chinese people have become Queensland's second largest visitor groups, and the number continues to rise.
Australian betting industry competition intensifies
To revitalize the tourism, mining huge tourism market in Asia in recent years, starting in Australia approved the construction of more than a dozen large casino resorts and other items of interest this month ASX listed diversified investment holding group - Australia Fortune Group Limited ( ASF Group Limited, ASX Code: AFA) successful bid total amount of the Gold Coast in Queensland, Australia A $ 5 billion investment in world-class cruise ship terminal integrated commercial real estate development projects, marking the largest state in the history of the Harbour City Comprehensive Development Project Speed (details).
Australia already fierce competition in the betting and tourism market is further warming. To compete for Asian tourists, especially Chinese tourists to Australia, tourism, real estate investors are casino will start as a development priority. Currently, James Parker Crown Group It has launched a new casino opened in Sydney plans, and consider adding a branch in Brisbane. Queensland government is preparing to issue new license casino operators, including Australia and wealth ASF Group, Crown Group, Echo Entertainment Group, including many heavyweights n getting ready to launch a new round of competition.
In recent years, with the Asia-Pacific region continues to build luxury casino, Australia wealthy Asian tourists gravity is gradually decreased, which is regarded as an important reason for the government to speed up the licensing of the casino business. Australia Allen Consulting Group data show that Australia's only global high-end betting 3% of industry revenues in Hong Kong, Singapore is now Asia's most lucrative betting area, however, Vietnam, Cambodia, the Philippines casino also has the potential to catch up.
Tony FUNG is one of the founders of Sun Hung Kai & Co. in Hong Kong conglomerate Hong Kong billionaire Fung King Hey eldest son as a private investment banker and investor Tony FUNG has many properties in Queensland, private assets, including a specialty beef cattle and farming business and a sugar cane plantation.