Australia’s Aquis Entertainment Ltd says business volumes remained strong at Casino Canberra during the three months to 30 June 2022 as life returns to normal in the wake of the COVID-19 pandemic.
In an ASX filing, Aquis revealed sales of AU$9.8 million for the June quarter – broadly in line with its Q1 result – although profit grew from just AU$303,000 in the March quarter to AU$2.4 million due to lower staff and operating costs.
“COVID-19 disruptions continue to impact on the casino workforce, however business revenues remain strong … and continue to exceed the budgeted EBITDA,” the company said.
Aquis also provided an update on its recently agreed sale of Aquis Canberra Pty Ltd – the wholly-owned subsidiary that operates Casino Canberra – confirming it has now received an AU$2.5 million deposit from Iris Capital. The balance of the AU$63 million purchase price is currently held in Escrow by Aquis’ legal representatives, it said.
The company added that it is still considering the best use of the sale proceeds, including repayment of outstanding debt and distribution to shareholders, amongst other options.
“The Board is also considering the future of Aquis,” it stated.