1. Australia Stocks

  2. •

    Consumer Cyclical

  3. •

    Gambling, Resorts & Casinos
Reef Casino Trust

Reef Casino Trust

RCT.AX
Reef Casino TrustAU flagAustralian Securities Exchange
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AUD
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(- -)

Recent

price

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P/E

ratio

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div

yld

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ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
FRC
- -
- -
- -
- -
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1
0.89
0.89
0.85
0.76
0.62
1.07
1.22
1.04
1.01
1.07
Revenue per Share
0.15
0.23
0.22
0.28
0.24
0.3
0.24
0.23
0.2
0.13
-0.01
0.3
0.36
0.22
0.2
0.22
Basic EPS, GAAP
-0.1
-0.13
-0.15
-0.11
-0.08
-0.11
-0.27
-0.17
-0.16
-0.09
-0.07
-0.13
-0.12
-0.27
-0.33
-0.29
Free Cash Flow per Basic Share
0.44
0.4
0.4
0.45
0.53
0.61
0.58
0.39
0.5
0.27
0.21
0.44
0.61
0.65
0.42
0.37
Dividend per Share
0.13
0.13
0.13
0.13
0.13
0.13
0.13
0.13
0.13
0.13
-0.06
-0.06
-0.06
-0.06
-0.06
-0.06
Book Value per Share
0.45
0.47
0.5
0.57
0.55
0.54
0.49
0.52
0.47
0.46
0.35
0.51
0.57
0.46
0.45
0.49
Tangible Book Value per Share
25
25
25
25
25
25
25
25
25
25
25
25
25
25
25
25
Basic Weighted Avg Shares
- -
- -
- -
- -
- -
25
22
22
21
19
16
27
30
26
25
27
Sales/Revenue/Turnover
-16,522.64
-16,896.15
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59.89
53.78
51.39
47.84
35.75
31.75
54.95
59
40.37
39.59
40.88
Operating Margin (%)
5
4
4
4
4
5
5
5
5
5
4
5
5
5
5
5
Depreciation Expense
4
6
5
7
6
7
6
6
5
3
- -
7
9
5
5
5
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
7,222.64
11,190.38
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- -
30.04
26.9
25.41
23.79
17.65
-1.34
27.51
29.63
20.71
20.14
20.33
Profit Margin (%)
2
1
1
2
-2
1
2
1
2
1
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6
9
4
1
1
Working Capital
98
95
94
91
85
87
92
88
89
86
85
85
85
85
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1
LT Debt
11
12
13
14
14
13
12
13
12
12
9
13
14
12
11
12
Total Equity
-7.98
-8.13
-8.44
-7.83
-10.12
14.75
11.63
11.09
10.04
6.81
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15.28
18.08
10.66
18.5
88.63
Return on Invested Capital (%)
4.75
6.7
6.34
7.86
13.38
16.69
13.05
12.42
11.25
7.63
- -
17.68
21.54
12.94
25.06
-1,013.25
Return on Capital (%)
119.33
181.39
168.61
217.02
188.03
233.17
185.54
175.84
157.42
103.96
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Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
No data availableFinancial data will appear here once available

Working Capital

FRC

•

in mil. unless spec.
No data availableFinancial data will appear here once available

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.6%
8.72%
7.43%
Free Cash Flow
24.83%
44.92%
-11.55%
Net Income, GAAP
-381.54%
-727.81%
6.41%
Sales/Revenue/Turnover
2.98%
14.73%
5.43%
Total Cash Common Dividend
2.94%
20.95%
-12.5%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
26
2024
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- -
- -
- -
25
2025
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- -
- -
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27

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.22
2024
- -
- -
- -
- -
0.2
2025
- -
- -
- -
- -
0.22

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.65
2024
- -
- -
- -
- -
0.42
2025
- -
- -
- -
- -
0.37
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Business
Reef Casino Trust (ASX:RCT) owns and leases the Reef Hotel Casino complex in Cairns, North Queensland, Australia. The Trust generates revenue primarily from rental income derived from casino operations, including electronic gaming machines, table games, TAB betting, and Keno; hotel accommodations through the Pullman Reef Hotel Casino; and food and beverage services at venues such as Tamarind Restaurant, Soy Kitchen Street Food, Merchant Café, Flinders Bar and Grill, Lihou Bar, Bar36, and tamarind private dining. Additional offerings encompass event spaces for conferences, weddings, casino sports arena, and private functions. Founded in 1993 and headquartered at 35-41 Wharf Street, Cairns, Australia, the company operates exclusively within Australia, targeting local residents, domestic tourists, and regional visitors in the gaming, hospitality, and entertainment sectors. Reef Casino Trust functions as a subsidiary of Reef Casino Investments Pty Ltd and derives the majority of its revenue from non-VIP casino patrons focused on gaming machines, with secondary contributions from hotel and non-casino activities. In July 2025, the Trust entered a Takeover Bid Implementation Agreement with Iris Cairns Property Pty Ltd, an affiliate of Iris Capital, for a proposed AU$177 million acquisition valuing units at AU$3.5541 each, supported by major unitholders Accor and Casinos Austria International holding over 70% of units. The offer was subsequently revised upward in August 2025 to AU$185.3 million at AU$3.72 per unit, and further to AU$192.7 million at AU$3.87 per unit, with unanimous board recommendation subject to regulatory approvals, minimum acceptance thresholds, and independent expert confirmation. These developments follow initial approaches in February 2025, CEO transition from Paul McHenry to Brad Sheahon earlier in the year, and stable 2024 revenues amid rising costs, positioning the transaction as Iris Capital's third casino asset alongside expansions in Canberra and Alice Springs.