As part of the proposal, Reef is requiring Aquis to also buy Casino Canberra, something that we think Fung won’t have any problems with in the bigger picture. After all, his company has already started discussions with government officials in Queensland regarding the kind of regulatory process it has to go through to secure a casino license in the region.
Fung has made no bones about his plans to be a major player in the Australian gambling market, and this proposal to buy Reed Casino Trust is enough indication that the man is putting his money where his mouth is.