Aquis H1 revenue down, CEO resigns

Australian-listed casino operator Aquis Entertainment Limited has posted revenue of A$12.3 million (US$9 million) for the first half of 2018, down 3.6% from the same period last year.

In separate filings to the Australian Stock Exchange, the operator of Casino Canberra also announced the resignation of its CEO Jessica Mellor, and that its partnership with Executive Sports and Entertainment Pty Limited (ESE) would not be pushing through.

Of its performance from January to June of this year, the Hong Kong-based company stated that “[a] strong budget has been set for the year, with the expectation of positive EBITDA and cash flows for the full financial year and the half year results achieved have been in line with those targets,” noting that total operating expenses were down by 19.5% from the previous year, to A$14.5 million (US$10.7 million).

Aquis posted a first-half loss of A$2.2 million (US$1.6 million) which was lower than last year’s A$4.2 million (US$3.1 million) loss during the same period.