Iris Capital – Revesby Pacific Hotel and Crown Hotel

WA-85039

Iris Capital Holdings Pty Ltd (**Iris Capital**) proposes to acquire Crown Hotel and Revesby Pacific Hotel, which are entertainment and gaming pubs in Revesby, NSW (the **Acquisition**). Iris Capital is an Australian development and hospitality group that owns and operates various Australian pubs, hotels and casinos. Iris Capital owns pubs and hotels across New South Wales (**NSW**), Queensland, Northern Territory (**NT**), Australian Capital Territory (**ACT**), and Victoria. It also owns and operates Casino Canberra in the ACT and Lasseters in the NT. Revesby Pacific Hotel is a licensed pub featuring a bar, Cellarbrations bottle shop, and gaming machines. It has a total of 24 gaming machine entitlements (**GMEs**) and one poker machine permit (**PMP**). Crown Hotel Revesby is a licensed pub offering a bar, Thai restaurant, TAB facilities, and electronic gaming machines. It has a total of 28 GMEs and two PMPs. The vendors of the target venues are Redcape Hotel Group Pty Ltd and MAHF Custodian Pty Ltd, which together form part of the Redcape Fund. The Redcape Fund is part of MA Financial Group, an ASX-listed global alternative asset manager specialising in private credit, real estate, and hospitality based in Sydney, NSW. The Redcape Fund portfolio owns and operates community pubs and hotels in New South Wales, Queensland and Victoria. Both Iris Capital and the target venues supply on-premises hospitality products and services, including liquor for on-site consumption, dining, gaming, and entertainment, at licensed hotel venues in the Revesby and surrounding areas of south-western Sydney. Iris Capital proposes to acquire all or substantially all of the assets of each target venue business. This includes: * Crown Hotel: the strata property of the hotel; the hotel business, plant and equipment, and goodwill in respect of the business including 28 GMEs, two PMPs, the hotel liquor licence and gaming licences necessary to operate the business; and stock in trade; and * Revesby Pacific Hotel: the freehold property of the hotel; the hotel business, plant and equipment, and goodwill in respect of the business including 24 GMEs, one PMP, the hotel liquor licence, and gaming licences necessary to operate the business; and stock in trade.