A Hong Kong Billionaire Is Making A Bid For Casinos In Cairns And Canberra

The Reef Hotel Casino Cairns

Tony Fung, a Hong Kong-based billionaire, is reportedly making a play for two Australian casinos — in Canberra and Cairns.

A report in the Australian Financial Review says a statement will be lodged by Reef Casino Trust later today, confirming an offer has been made.

Reportedly Fung would use the Cairns casino license for his new $4.2 billion gaming resort at Yorkey’s Knob, in far north Queensland.

Fung, according to the report, is hoping to buy all the units in the Reef Casino Trust at $4.354 each.

The Reef Casino Trust has been contacted for comment.

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