Reef Casino Trust

Australia’s Reef Casino Trust delivered a solid financial performance in FY25, reporting a 6.4 percent rise in net profit to AU$5.41 million, supported by steady rental income from the Reef Hotel Casino in Cairns. Revenue climbed 4.8 percent to AU$26.74 million, underscoring the resilience of its property-linked earnings model. The results arrive as property investor Iris continues discussions to acquire the trust, a move that could reshape its ownership structure.

Reef Casino Trust has announced amendments to its ongoing takeover bid, reflecting a strategic recalibration aimed at optimizing shareholder value and operational efficiency. The revisions to the offer, which follow consultations with stakeholders and regulatory authorities, suggest a more structured approach to acquisition terms, funding, and governance. Market analysts believe that the changes could enhance investor confidence while providing the trust with greater flexibility to pursue growth and consolidation opportunities.

Iris Capital, a leading Sydney-based hospitality group, has increased its all-cash takeover offer for Reef Casino Trust (RCT), operator of The Reef Hotel Casino in Cairns, to AU$177 million (approximately Rs.1,57,000 lakh). The revised proposal, reflecting a 17.7% premium over RCT’s recent trading price, enjoys backing from the trust’s largest unitholders, Accor and Casinos Austria International.