Reef Casino Trust

Aquis set to make $214m cash play for Reef Casino

Aquis, the developer owned by Hong Kong property player Tony Fung, could lodge a formal $214 million takeover bid for the company that runs the Cairns and Canberra casinos as early as Monday this week, according to sources familiar with the deal.

• Updated Feb 24, 2014
• Jessica Gardner

Reef Casino Trust

Sales and profit rose on the back of good growth in the company’s casino and hotel operations at the Reef Hotel Casino property, the company said. A higher than average win rate among premium gamblers drove the casino result. Recent financial turmoil may effect full-year results.

• Updated Aug 24, 2011

• Market Wrap

Qld floods likely to wash away profits

The flooding in Queensland is likely to lead to an increase in the number of profit warnings ahead of the February reporting season as the downstream impact of the wet weather will weigh on many small industrial firms across a variety of sectors.

• Updated Jan 5, 2011
• Brendon Lau

• Market Wrap

Asian competition puts pressure on Ardent Leisure

Growing competition for Asia’s tourists is shaping up to be a pressure point for theme park operator Ardent Leisure and Cairns casino operator Reef Casino.

• Updated Aug 23, 2010
• Brendon Lau

Qld doubles its take from casinos

One doesn't normally associate sovereign risk with Australia, unless of course you are a casino operator in the sunny state of Queensland

• Aug 24, 2009
• Andrew White

Reef Casino Trust (RCT)

Reef Casino Trust owns the Reef Hotel Casino complex in Cairns, a city that has historically achieved strong population growth and established a reputation as being a resilient tourist destination, even in challenging economic times.

• Dec 5, 2008
• Trevor Hoey

Reef Casino triumphs over tourism slump

The lack of Japanese tourists coupled with higher fuel prices and a flat domestic tourism sector has not stopped the Reef Casino Trust, which controls the Reef Hotel Casino Complex in Cairns, from reporting a 17 per cent increase in revenues to $11.2 million.

• Aug 21, 2008
• Lisa Allen

Reef Casino Trust (RCT)

The Reef Casino Trust is the owner and lessor of the Reef Hotel Casino Complex in Cairns. Shares in the trust are down 43 per cent so far this year and have fallen 48 per cent over the past 12 months. This is despite some positive outlook commentary from management in recent months. In May, management said that rental income received in the first four months of this year was comfortably ahead on the same period last year. Management said it expected Reef's net profit for the half-year ended June 30 would be 15 per cent higher than the $3.9 million reported last year. And when in June it provided its distribution guidance of 10.5¢ per unit, management added that trading conditions between May and mid-June were good enough to confirm profit expectations, despite their mindfulness of potentially softer tourism in Cairns. Reef shares are tightly held, with about 70 per cent held between Reef Casino Investments, Casinos Austria and Accor Casino Investments.

• Jul 22, 2008
• Peter Wells

Briefs

Axing 'worrying'

• Aug 24, 2006
• Lisa Allen; Mark Phillips; Mathew Dunckley and Ben Wilmot; Tina Perinotto

Reef casino targets Japanese tourists

Reef Casino Trust is hoping for more patronage from Asian premium players in coming years after refocusing its operations in the first half of 2005.

• Aug 25, 2005
• Ben Wilmot

BRIEFS

Murdoch quits NDS

• Aug 25, 2005

Casino bets on rebound in tourism

Cairns casino owner Reef Casino Trust yesterday posted a 46 per cent rise in first-half net profit despite the outbreak of severe acute respiratory syndrome and the Iraq war.

• Aug 15, 2003
• Ben Power

Reef Casino Trust finally turns bottom line black

Struggling Reef Casino Trust has moved out of the red for the first time with an operating profit before abnormals of $5 million, allowing a maiden distribution of 0.25¢ per unit.

• Aug 29, 2000
• Peter Kermode

Reef Casino edges to maiden distribution

Investors who gambled on the Reef Casino Trust may finally see some return, with the vehicle foreshadowing a maiden profit distribution in the next half year.

• Feb 22, 2000
• Emily Pettafor

Reef Casino crew take $70m plunge

Investors in Reef Casino Trust yesterday gave the green light to a $70 million rescue package for the debt-ridden vehicle.

• Sep 22, 1999
• Emily Pettafor