Bush was shot dead 30 years ago at the Red Fox Tavern just before midnight on October 24.
He was enjoying a drink with three other staff members after closing up the tavern when two men burst in.
The two heavily disguised men, one carrying a double-barrelled shotgun and the other a baseball bat, stormed into the bar yelling "This is a hold-up".
As Bush stood up, he was shot and killed. One of the men then ordered a female staff member to search Bush's pockets for the key to the safe.
The offenders took off with $25,000.
The murdered man's widow, Gay Bush, told 1 News today she was "relieved with the arrests" and thanked police for their hard work over the past 30 years.
Lendrum said Bush's family had been through every family's worst nightmare and praised them for their courage, strength and bravery.
"We hope these arrests can offer them some degree of comfort and closure," he said.
The arrests had been a long time coming and police hoped it sent a clear message they would not give up on finding those responsible for crimes and holding them to account.
"We would like to take this opportunity to acknowledge the media, Police Ten 7 and members of the public for their assistance with this investigation," said Lendrum.
Police were unable to make any further comment while the matter was before the courts.
