Reef Casino Trust (AU:RCT) has released an update.
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Reef Casino Trust announced a stable 2023 financial performance at their Annual General Meeting, mirroring pre-pandemic levels but with a slight dip from the previous record year. The Trust reported strong local and domestic patronage, with international visits expected to rise, and declared a total 2023 distribution of 21.69 cents per unit, after a solid rental income from the Reef Hotel Casino. An independent valuation pegged the Reef Hotel Casino complex at $161.0 million, a 22% increase from the 2020 valuation, reflecting robust cash flows and an optimistic post-pandemic outlook.
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