AQUIS ENTERTAINMENT LIMITED 2016 FULL YEAR RESULTS PRESENTATION 31 DECEMBER 2016 28 FEBRUARY 2017
HIGHLIGHTS A VISION COMING TO LIFE SIGNIFICANT ADVANCEMENTS PROGRESS ON CAPABLE ON KEY OPERATING VARIABLES STRATEGIC GROWTH INITIATIVES TEAM • Continued improvements in operational • Casino Canberra refurbishment and refreshment • Restructured leadership team to strengthen performance at Casino Canberra property project delivered on time and on budget with operational capability improved results realised in the second half • Enhanced customer service standards, with • Jessica Mellor appointed Chief markedly improved guest satisfaction scores • New VIP gaming facilities, including private VIP Executive Offjcer gaming salon and private dining room, solidify • Additional senior hires in gaming, • Key business effjciency initiatives successfully the foundation upon which to build high limit and VIP marketing, business development, implemented, resulting in operational VIP marketing and cash operations expense savings • Investing in the growth and development • A complete overhaul of fjnishings and equipment, • Signifjcant growth in volume of high limit and of our employees from arrival to the gaming fmoor, provide an VIP program play enhanced customer experience that appeals to • Targeted marketing programs attracted better the masses quality players, resulting in heightened gaming • Lodgement and assessment of Casino Canberra activity levels per player redevelopment proposal for an integrated entertainment precinct complete AQUIS ENTERTAINMENT LIMITED 2016 FULL YEAR RESULTS PRESENTATION
OVERVIEW KEY DRIVERS – CASINO CANBERRA ACTUAL 21% 29.2% NON-GAMING GROSS REVENUE GAMING REVENUE VERSUS PCP VERSUS PCP 7.4% 32.9% SPEND PER VISITATION VISITOR VERSUS PCP VERSUS PCP 172% LOYALTY MEMBERSHIP VERSUS PCP AQUIS ENTERTAINMENT LIMITED 2016 FULL YEAR RESULTS PRESENTATION
OVERVIEW KEY DRIVERS – CASINO CANBERRA • Good revenue growth across all lines of business, despite disruption from refurbishment - Gaming +21%, Non-gaming +29.2% • Domestic revenue growth driven by increased spend per visitor (+32.9%) and increased visitation following refurbishment (+7.4%) • Growth across loyalty base members (+172% in new sign-ups) • Operating costs of $24.7 million, up 20.6% as a result of increased investments in people, loyalty and marketing ACTUAL GROSS GAMING REVENUE ($M) VISITATION 30 130,000 Aquis Aquis Refurbishment Refurbished 24.16 Acquisition works commence property reopens Acquisition 119,830 25 120,000 19.96 111,534 20 110,000 15.88 101,868 15 100,000 90,631 10 90,000 83,524 5 80,000 0 70,000 FY2014 2H2014 1H2015 2H2015 1H2016 2H2016 FY2015 FY2016 AQUIS ENTERTAINMENT LIMITED 2016 FULL YEAR RESULTS PRESENTATION
CASINO CANBERRA RESULTS ACTUAL $M GROSS GAMING REVENUE 24.2 NON-GAMING REVENUE 2.5 GAMING AND RELATED TAXES (4.7) OPERATING EXPENSES (24.7) EBITDA (2.8) DEPRECIATION AND AMORTISATION (1.1) EBIT (3.9) AQUIS ENTERTAINMENT LIMITED 2016 FULL YEAR RESULTS PRESENTATION
AQUIS ENTERTAINMENT LIMITED GROUP RESULTS AQUIS ENTERTAINMENT LIMITED 2016 FULL YEAR RESULTS PRESENTATION
OVERVIEW FY2016 RESULTS • Actual revenue and other income for FY2016 of $24.2 million, 21.7% higher than the result for the previous corresponding period (pcp), despite restricted trading conditions in 1H. • Actual EBITDA loss of $5.9 million, down 4.2% on pcp, attributable to higher revenue associated with the refurbishment of Casino Canberra in 2H. • Statutory NPAT loss of $7.7 million, up 27.6% on pcp resulting from higher interest and depreciation costs resulting from the refurbishment. AQUIS ENTERTAINMENT LIMITED 2016 FULL YEAR RESULTS PRESENTATION
AQUIS ENTERTAINMENT LIMITED GROUP RESULT ACTUAL $M GROUP EBITDA (5.9) DEPRECIATION AND AMORTISATION (1.1) GROUP EBIT (7.1) INTEREST (1.7) INCOME TAX CREDIT 1.1 NET LOSS (7.7) Results impacted by refurbishment works carried out during 1H 2016, which saw: • operations moved to temporary facility consisting of only 16 gaming tables • minimal food and beverage service • reduced levels of visitation due to smaller facility ( ) = Loss. AQUIS ENTERTAINMENT LIMITED 2016 FULL YEAR RESULTS PRESENTATION
CASINO CANBERRA REDEVELOPMENT PROPOSAL AQUIS ENTERTAINMENT’S PROPOSAL • Aquis Entertainment has proposed the development of a world-class integrated entertainment precinct in the heart of Canberra’s CBD. • The integrated resort will consist of luxury accommodation, featuring six-star villas and a new fjve-star hotel, world-class restaurants, bars, retail boutiques and entertainment options, including internationally renowned brands, as well as up scaled VIP and mass gaming facilities. STATUS OF PROPOSAL • In May 2016, the ACT Government announced that Aquis Entertainment’s proposal for the redevelopment of Casino Canberra and the surrounding precinct would progress to stage 2 of the Unsolicited Proposals assessment process • Aquis Entertainment subsequently lodged its detailed business case with the ACT Government in June 2016 • The ACT Government’s assessment panel, Invest Canberra, has advised that assessment is complete and recommendation will be made to Cabinet imminently. AQUIS ENTERTAINMENT LIMITED 2016 FULL YEAR RESULTS PRESENTATION
TRANSFORMATIONAL LEADERSHIP Jessica Mellor is a senior business executive Canberra property, and spearheading with vast experience in project management; our exciting $300M redevelopment plan spanning major infrastructure projects, for Canberra. residential and commercial development, and Jessica was appointed Chief Executive Offjcer funds management. on 3 October 2016 and has already made Jessica joined the greater Aquis group in her mark on the company. In her fjrst three 2013, when she played a key leadership role month’s as CEO, Jessica has implemented in the groups’ ambitious Yorkeys Knob project a number of new revenue generating in Cairns, and following the acquisition of initiatives, and focused on building a strong Casino Canberra, was appointed to the management team with signifjcant experience board as Executive Director, Strategy and in the gaming sector, and a solid VIP Project Development with responsibility for growth strategy to boost revenue into new projects, strategy and growth. During 2017 and beyond. this time, Jessica demonstrated her leadership skills and capability in delivering on key strategic priorities, having led the acquisition and successful refurbishment of the Casino AQUIS ENTERTAINMENT LIMITED 2016 FULL YEAR RESULTS PRESENTATION
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