Australia's Aquis Entertainment jumps on higher sale price for unit Aquis Canberra

Aquis Entertainment

06/07/2022 03:59

** Shares of gaming and hospitality firm Aquis Entertainment
 AQS.AX  rise as much as 8.3% to A$0.13, their highest level
since June 14
    ** Says it will sell its unit Aquis Canberra, which operates
Casino Canberra, for a higher price of A$58.2 mln ($39.64 mln)
to Oscars Group  urn:newsml:reuters.com:*:nASX2fTh0w 
    ** Aquis had earlier agreed to a A$52 mln offer from Capital
Leisure & Entertainment, controlled by Oscars Group, for Aquis
Canberra, but Oscars raised their bid after an unsolicited
bidder offered a "materially higher" price 
    ** Stock down 20% YTD, as of last close

    ($1 = 1.4682 Australian dollars)

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