Reef Casino expects to report annual profits of AU$14.4m

Reef Casino said it saw strong rental income.
Reef Casino said it saw strong rental income.

Reef Casino Trust has announced that its estimated profits rose to AU$8.3m in the second half of the year.

Australia.- Reef Casino Trust has reported that it expects to report a distributable profit of AU$14.4m in 2021 after Reef Hotel Casino saw strong rental income. The company said profit in the first half of the year was AU$6.1m and with profit in the second half set to increase to AU$8.3m.

The company said in a statement to the Australian Securities Exchange that its performance was mainly driven by casinos, while food and beverages also performed well. Hotel revenue was affected by the closure of the borders between Queensland and New South Wales and Victoria.

It said that from December 17, it will implement a mandatory Covid-19 vaccine policy for employees and guests.

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.

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