Yorkeys Knob Aquis developers make $276m bid to buy Reef Hotel Casino in Cairns and Canberra casino BID: Developer Tony Fung behind the proposed $4.2 billion mega-resort at Yorkeys Knob. Mccormack Marc THE developers of the proposed $4.2 billion Aquis mega-resort at Yorkeys Knob have made a $276m bid to buy the Reef Hotel Casino in Cairns and Canberras casino. Aquis chief executive officer Justin Fung said the acquisition, which is not opposed by the Reef Casino Trust's two largest investors Casinos Austria and Accor, would give them "increased certainty" for the casino component of their integrated resort. He said the purchase was in addition to the Aquis project and would enable them to start marketing and bringing visitors to Cairns now, principally from Asia, instead of starting from scratch in 2018. Mr Fung said all staff at the casino and hotel would be retained and Aquis would consider investing more money in the property. PROPOSAL: What a new Aquis resort and casino development at Yorkeys Knob might look like. Supplied He said it was not guaranteed that Aquis would get one of two new casino licences proposed by the Queensland Government outside of Brisbane.