Reef Casino Trust
RCTUF
Other OTC- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Bradley Sheahon
- Full Time Employees
- 1
- Sector
- Consumer Cyclical
- Industry
- Gambling, Resorts & Casinos
- Address
- Sofitel Hotel Brisbane QLD Australia 4000
- IPO Date
- Apr 3, 2013
- Website
- reefcasino.com.au
- Similar Companies
- Business
- Reef Casino Trust (RCTUF) owns and leases the Reef Hotel Casino complex located in Cairns, North Queensland, Australia. Founded in 1993 and headquartered in Cairns, the Trust operates as a single-purpose entity in the gambling, resorts and casinos industry, deriving the majority of its revenue from rental income generated by casino operations; its segments include casino operations featuring electronic gaming machines and table games, as well as hotel and non-casino operations encompassing room accommodations, food and beverage services, dining options such as Tamarind Restaurant, Soy Kitchen Street Food, Merchant Café, and Flinders Bar and Grill, and venues including Lihou bar, Bar36, private dining, sports arena, events, conferences, and weddings. The complex serves primarily non-VIP local residents, domestic tourists, and regional visitors, with electronic gaming as the primary revenue driver alongside stable hotel and hospitality offerings. In July 2025, Reef Casino Trust entered into a Takeover Bid Implementation Agreement with Iris Cairns Property Pty Ltd, a subsidiary of Sydney-based Iris Capital, for a proposed AU$177 million acquisition valuing each unit at $3.5541, a 17.69% premium to the prior closing price and over 30% above pre-announcement levels; the deal, supported by major unitholders Accor and Casinos Austria International holding over 70% of units, also encompasses the acquisition of its responsible entity Reef Corporate Services Limited and casino operator Casinos Austria International (Cairns) Pty Ltd, subject to 80% acceptance, regulatory approvals including from the Australian Competition and Consumer Commission, and no superior proposal. The Independent Board Committee recommends the offer as fair and reasonable pending an independent expert report, with bidder's statement expected in September 2025; this follows earlier 2025 discussions with Iris Capital and the Morris Group, outgoing CEO Paul McHenry's departure after nearly three decades, and stable 2024 revenues of $25.2 million in rental income amid rising compliance costs and tourism rebound. Reef Casino Trust operates as a subsidiary of Reef Casino Investments Pty Ltd.