ACCC raises Cairns casino concerns

ACCC raises Cairns casino concerns
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Aquis’ proposed acquisition of the Reef Casino in Cairns has come under scrutiny from the competition regulator, with the Hong Kong-based company also proposing to develop a casino at Yorkey’s Knob, 15km north of Cairns.

Aquis Resort will have around 750 gaming tables and 1500 gaming machines, with a final decision from the Queensland Government over whether it will approve its casino licence expected in 2015. If it proceeds, it will also include nine hotels, high end shopping, two theatres along with convention and exhibition facilities.

The Reef Casino has 128 hotel rooms, 38 gaming tables and more than 500 gaming machines.

“The proposed acquisition has the potential to reduce the number of casino owners in Cairns from two to one, removing potential competition between the Reef Casino and the Aquis Resort,” ACCC chairman Rod Sims said.

“The ACCC is concerned that the proposed acquisition has the potential to deprive customers of the benefits of competition between these casinos; such as promotions, rebates, or reductions in the price or improvements in the quality of other goods or services provided in conjunction with casino table games.”

Sims confirmed that the ACCC will continue to investigate the issue and invited further submissions from interested parties ahead of its proposed final decision date of August 21.

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