Reef Casino expects to announce profits of AU$3m

Reef Casino Trust has announced its distributable profit for the first six months of the year will be approximately AU$3m.

Australia.- Reef Casino Trust has reported an estimated net profit for the six months ended 30 June 2021 of approximately AU$3m after deducting distributions to unitholders.

The casino operator expects to distribute AU$12.05 cents per share (AU$6m) to unitholders. There was no distribution for the first half of 2020 due to the Covid-19 pandemic.

It noted that local and domestic markets had held up well. Although international borders remain closed, Reef Casino saw a return of interstate visitors in good numbers.

During the first quarter of the year, Reef Casino Trust reported a profit of AU$2.88m for the first quarter. That compares to a loss of AU$360,000 in the first quarter of 2020 and surpasses 2019 figures.

The operator announced in January that it had made a profit in the third and fourth quarters of 2020.

Reef Casino Trust stated: “While it is difficult to see a swift return of international visitors to Cairns, our complex should continue to see strong local and regional support.

“As the Covid-19 vaccination continues to roll out and the State border situation stabilises further, we can expect to see more domestic visitors to Cairns.”