Australia's Aquis Entertainment gains as bidders flock for its Casino Canberra

Aquis Entertainment

06/07/2022 06:19

(Updates)
    ** Shares of gaming and hospitality firm Aquis Entertainment
 AQS.AX  rise as much as 66.7% to A$0.20 after co receives a
higher proposal for its unit
    ** Aquis says Iris Capital has offered to purchase Aquis
Canberra, which operates Casino Canberra, for A$60 mln ($40.74
mln)  urn:newsml:reuters.com:*:nASX6MJjwy
    ** Stock set for its best day since March 2021
    ** Earlier in the day, co announced a A$58.2 mln offer from
Oscars Group, that had "materially" hiked its offer in view of
an unsolicited bidder  urn:newsml:reuters.com:*:nASX2fTh0w
    ** AQS says the board will consider Iris Capital's offer,
which also includes a break fee of A$1 mln
    ** Aquis stock notches its highest levels since May 12
    ** Stock down 20% YTD, as of last close

    ($1 = 1.4682 Australian dollars)


 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))