Casino Canberra Feb. GGR rises

The Aquis Group’s Casino Canberra saw higher gross gaming revenue in February, helped by a refurbishment of the property and targeted marketing programs. 

In a release to the Australian Stock Exchange, the group said gross gaming revenue gained 10 percent to $1.9 million ($1.4 million). That’s 11 percent lower than January, but the company said the drop was mainly due to fewer days in the month.

It said gaming department expenses were in line with previous periods.

The casino reported a wider loss for 2016 of $7.7 million.

Overall gambling revenue gained 21 percent for the year to $22 million, with food and beverage gaining to $2.23 million.

Casino owner Aquis is in a negative net asset position, with liabilities of $31.3 million outstripping assets by $14,300. The share price has slumped to 5 cents.

Casino Canberra reopened last year after a $14 million refurbishment.