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.