Reef Casino Trust reports rise in full-year profit

The Australian casino owner reported a 6.4 per cent rise in net profit.

Australia.- Reef Casino Trust (RCT), the ASX-listed trust that owns and manages the Reef Hotel Casino in Cairns, has posted a 6.4 per cent increase in full-year net profit to AU$5.41m (US$3.82m) for 2025. Revenue rose by 4.8 per cent to AU$26.74m (US$18.88m), largely driven by rental income from the casino complex, which reached AU$25.52m (US$18.02m).

Brad Seahon, RCT’s CEO, said tourism in Cairns had shown a “buoyant” trend with international visitation nearing pre-pandemic levels despite continued softness in Chinese arrivals. Visitation figures were up 2.5 per cent year-on-year, while electronic gaming revenue was up by 2.9 per cent. Table game revenue was up 13.6 per cent.

Looking ahead, RCT’s chair Wendy Morris signalled a challenging operational environment but noted emerging opportunities in the increased airline capacity to the region and growth in the Cairns cruise market.

The takeover bid by Iris Cairns Property Pty, which has the backing of RCT’s two largest unitholders, Casinos Austria International and Accor, is likely to extend past its original March 13, 2026 closing date. That reflects delays in obtaining a Queensland casino licence and suitability approvals, which regulators now expect to take several months beyond the offer period. If the bid period is prolonged by more than a month, some unitholders may gain withdrawal rights, although major holders have indicated they will not exercise these provided no higher offer emerges.

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The Australian casino owner reported a 6.4 per cent rise in net profit. Australia.- Reef Casino Trust (RCT), the ASX-listed trust that owns and manages the Reef Hotel Casino in Cairns, has posted a 6.4 per cent increase in full-year net profit to AU$5.41m (US$3.82m) for 2025. Revenue rose by 4.8 per cent to AU$26.74m…