Directors managing the Leaf Casino Trust (RCT), owner of the Leaf Hotel Casino (pictured rendering) in Queensland, Australia, on Monday recommended the trust owner sell the property to a Hong Kong-based U.S. billionaire.
The move comes after Aquis Leaf Holdings Ltd Pty Ltd, wholly owned by Tony Fung Wing Cheung, former chairman of Hong Kong-based financial services firm Sun Hong Kai and Co Ltd, issued a statement saying trading could falter if it fails to meet the new Nov. 28 deadline.
A filing by Leaf Casino Trust on Monday to the Australian Stock Exchange said all directors had unanimously recommended the deal, adding that it “considers 100% cash and gives unit owners the opportunity to determine cash value and make their investments happen…”
Mr Peng offers AUD4.35 ($3.81) per unit of RCT, according to a trust filing filed on Oct. 17. So far, 81% of unit owners have agreed, but 90% have conditions to agree.
According to data filed with the RCT in March, the largest unit holders are Casino Austria Group with 42%, French hotel company Accor SA with 29.96%, and entrepreneur Gary Morich with 5.03%.
At the time of filing in March, RCT had 49,801,036 acquisition deals issued, valued at around A$216.83 million.
But the deal is also accompanied by Peng’s offer to buy Casino Austria International Cairns, the casino operator of the Rif Hotel Casino in Cairns, for A$30.88 million, and another venue, Rif Corporate Services (owned by Casino Austria and Accor), in the Australian Capital Territory, for A$12.6 million. This will cost the entire acquisition process more than A$269 million.
In September, the Australian Foreign Investment Review Board (FIRB) approved Aquis Leaf Holdings’ offer to buy the Leaf Casino Trust.
Additionally, Aquis is seeking approval to build an A$8.15 billion casino resort, or Aquis Resort, at Yorkis Nov near Cairns. 안전한 카지노사이트
In August, the Australian Competitive Consumer Council said it was satisfied that the acquisition of the Leaf Hotel Casino and the possibility of building an Aquas resort did not amount to a monopoly in the local market.