Three Year Deal Between Aquis Australia and the Gold Coast Turf Club Sees a Name Change!
Written on the 2 June 2017
It was announced this morning Aquis Australia has signed a three-year deal with the Gold Coast Turf Club (GCTC) which will see the Club renamed Aquis Park at the beginning of the new racing season, which begins August 1st.
As part of the official public launch, a special Aquis Park race day will be held on Saturday, August 5th.
Gold Coast Turf Club CEO Steve Lines said Aquis Park would be a first for the racing industry in Queensland.
"We are excited to enter this long-term partnership with Aquis, fast becoming an iconic brand in Australia," Lines said.
The goal of Aquis Farm (based in Canungra) was to first become the leading thoroughbred racing and breeding farm in Queensland and they believe they have achieved that faster than expected. Aquis Australia CEO Justin Fung, son of billionaire Hong Kong developer Tony Fung, now has his sights set on doing the same thing nationally.
"Within that one year, we have really catapulted ourselves to becoming the premier farm in Queensland and now we definitely have our foot in the door in terms of being a competitive national farm," Fung said.
"We are really proud of the progress and just want to continue to grow."
Fung is very much a hands-on CEO and spent the past week at the National Broodmare Sale on the Gold Coast.
He has the ability to purchase any thoroughbred he wants, however he's very much interesed in the breeding side of the market.
"I'm very much interested in the breeding side and to be able to make investments at the right time," Fung said.
Fung already has more than 125 broodmares that will be linked with 13 of his stallions which are located at both Aquis Farm and the Emirates Park facility in the Hunter Valley NSW, that they recently acquired the management rights to.
While we're discussing deals between Aquis Australia and the Gold Coast Turf Club, the GCTC also has big plans in the pipeline.
When the GCTC told the Gold Coast Bulletin about the three-year naming deal, they also mentioned their plans to revamp the club, including a hotel, residential property, $8 million light installation, track upgrade that includes a synthetic polytrack and redevelopment of the "Dome" venue, betting ring and carpark.
The multi-million dollar refit has been inspired by the spectacular Meydan Hotel at Dubai Racing Club.
The revamp means punters will be able to watch live racing from their hotel room overlooking the track at Bundall, with the hotel including a rooftop pool.
As part of the deal, they hope to have racing under lights within two years.
The venture is part of a decade-long plan to make the club the city's premier entertainment precinct.
Steve Lines said the completion of the masterplan would make the facility a hotspot for social and entertainment seekers on the Gold Coast.
"You can see what we are doing, not only from a racing perspective, but the whole equine and entertainment areas of the precinct," Lines said.
Justin Fung said the lure of being part of the planned development, worth hundreds of millions, played a key part in the decision to join the turf club.
(Top photo: Aquis Australia CEO Justin Fung (left) with Gold Coast Turf Club CEO Steve Lines - Photo Credit: Jade Polley)
(Bottom photo: Possible look of redevelopment)