 Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! |
Gaming News
Chips Are Down For Aussie Casino Group10 October 2000SYDNEY, AUSTRALIA—Oct. 10, 2000 – The Daily Deal.com: "Vienna-based Casinos Austria International Holding GmbH. has made a mop-up bid for the outstanding shares in Australia-based Casinos Austria International Ltd. "Casinos Austria said in a statement Monday it would offer A$1.20 a share for the 30% of CAIL it did not own. The bid values CAIL at A$212 million ($113 million). "…CAIL Chairman Ben Macdonald said the bid represented a solid premium to recent market prices, but the company would await a report by Grant Samuel & Associates Pty. Ltd. before deciding whether to recommend acceptance. "…[CAIL] shares hit a low-point of A$0.06 in late 1997 after the Cairns' Reef Casino Trust and Christmas Island Resort, both of which were operated by CAIL, teetered on the brink of bankruptcy…" |