End of a Dream for Cairns —–Aquis will not happen,—Cairns will become a boutique TOURISM destination,the Chinese tourist will go to the Gold Coast and Sydney ——–Newman refuses to intervene in probe into Aquis developer Tony Fung’s proposed takeover of Cairns Reef Casino | Business News | Business and Finance News | | Cairns Post
QUEENSLAND Premier Campbell Newman is refusing to interfere in the probity investigation of the Reef Hotel Casino which Hong Kong billionaire Tony Fung wants to buy for $276 million.
He told reporters in Cairns yesterday that independent Office of Liquor and Gaming Regulation officials needed “every bit of time and support” to do their jobs properly.
Mr Fung has warned that unless he receives probity clearance for the Reef casino by November 28 he will “seriously reconsider” any further investment in the Yorkeys Knob project.
The takeover is linked to his $8.15 billion Aquis project. He wants to float both as one entity on the Hong Kong Stock Exchange in 2016 to raise capital for the resort, but needs a full 12-month trading period before listing.