With the proposed sale of Canberra Casino about to go through, it is clear that some dramatic changes will be occurring in the operations of the casino. With the final vote set for March 21, Blue Whale has already taken steps in setting how the casino operations will be run, as they have hired IProsperity Group to take control once the final sale is approved.
Blue Whale had acquired Canberra Casino in December, but was waiting on final approval from their shareholders before moving forward. However, with the sale close at hand and with there no reason to believe that there are any obstacles to stand in the way of the sale, Blue Whale has decided to move forward with getting the operations of the casino in order.
A number of senior management will likely remain in place even after the approval, despite a memo that seemed to contradict that idea. In a note to shareholders, Blue Whale executives explained that “the employment of the senior management of the company would transfer to the management company.”
The arrangement has already garnered support among the shareholders. Tony Fung, one of the leading representatives among the shareholder group, has already informed the company of his support for the hiring of the management group. However, he explained that key management personnel would remain in place even under the management group.