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Reef Casino
(Sydney:RCT)
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Rating:65Neutral
Price Target:
AU$4.00
▲(4.17% Upside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by financial risk: strong profitability and positive free cash flow are tempered by a highly leveraged balance sheet. Technicals are supportive with a clear uptrend, but momentum indicators look overextended. Valuation is helped by a solid dividend yield alongside a reasonable P/E.
Positive Factors
Cash generation
Consistent operating cash flow and positive free cash flow across the reported years show durable internal funding ability. This supports ongoing capital spending, distributions and working-capital needs, reducing reliance on external financing over the medium term.
Negative Factors
High leverage
Very high debt-to-equity materially increases financial risk and reduces maneuverability. In downturns or against higher rates, servicing and refinancing needs can strain cash flow and limit investment or dividend flexibility, raising long-term solvency concerns.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistent operating cash flow and positive free cash flow across the reported years show durable internal funding ability. This supports ongoing capital spending, distributions and working-capital needs, reducing reliance on external financing over the medium term.
Read all positive factors
Reef Casino (RCT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$189.74M
Dividend Yield5.76%
Average Volume (3M)5.05K
Price to Earnings (P/E)17.6
Beta (1Y)0.12
Revenue Growth4.81%
EPS Growth6.37%
CountryAU
Employees1
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)0.22
Shares Outstanding49,801,037
10 Day Avg. Volume4,007
30 Day Avg. Volume5,053
Financial Highlights & Ratios
PEG Ratio1.60
Price to Book (P/B)7.19
Price to Sales (P/S)3.28
P/FCF Ratio10.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Reef Casino Business Overview & Revenue Model
Company Description
The Reef Casino Trust owns and leases the Reef Hotel Casino complex, a prominent establishment situated in Cairns, North Queensland, Australia. This entity was founded in 1993, maintains its headquarters in Brisbane, Australia, and operates as a s...
How the Company Makes Money
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Reef Casino Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
38
Negative
Cash Flow
72
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 26.75M | 25.52M | 26.29M | 30.51M | 26.86M |
| Gross Profit | 12.31M | 21.27M | 21.68M | 22.92M | 19.16M |
| EBITDA | 16.44M | 15.34M | 15.71M | 22.64M | 19.61M |
| Net Income | 5.41M | 5.08M | 5.37M | 8.99M | 7.36M |
Balance Sheet | |||||
| Total Assets | 103.62M | 101.13M | 102.55M | 107.36M | 104.44M |
| Cash, Cash Equivalents and Short-Term Investments | 3.81M | 3.19M | 7.34M | 13.74M | 9.62M |
| Total Debt | 86.05M | 1.00K | 85.16M | 85.45M | 85.55M |
| Total Liabilities | 91.42M | 89.78M | 91.04M | 93.12M | 91.61M |
| Stockholders Equity | 12.19M | 11.35M | 11.51M | 14.23M | 12.83M |
Cash Flow | |||||
| Free Cash Flow | 8.72M | 6.38M | 10.04M | 19.40M | 16.61M |
| Operating Cash Flow | 15.96M | 14.57M | 16.75M | 22.37M | 19.78M |
| Investing Cash Flow | -7.20M | -8.18M | -6.71M | -2.97M | -3.17M |
| Financing Cash Flow | -8.13M | -10.54M | -16.45M | -15.27M | -11.07M |
Reef Casino Technical Analysis
Positive
3.84
Price Trends
3.64
Positive
3.49
Positive
3.45
Positive
Market Momentum
0.06
Positive
62.10
Neutral
11.11
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:RCT, the sentiment is Positive. The current price of 3.84 is above the 20-day moving average (MA) of 3.81, above the 50-day MA of 3.64, and above the 200-day MA of 3.45, indicating a bullish trend. The MACD of 0.06 indicates Positive momentum. The RSI at 62.10 is Neutral, neither overbought nor oversold. The STOCH value of 11.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:RCT.
Reef Casino Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | AU$38.49B | 26.95 | 23.15% | 1.63% | -1.22% | 10.79% | |
69 Neutral | AU$2.10B | 63.54 | 2.62% | 2.82% | 5.46% | ― | |
65 Neutral | AU$189.74M | 17.61 | 48.57% | 5.71% | 4.81% | 6.37% | |
65 Neutral | AU$11.97B | 32.97 | 109.80% | 2.99% | -2.78% | -2.45% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
45 Neutral | AU$928.93M | -1.55 | -57.00% | ― | -26.19% | 89.24% | |
45 Neutral | AU$307.61M | -8.85 | 231.91% | ― | 5.56% | 8.45% |
* Consumer Cyclical Sector Average
AU:RCT
Reef Casino
3.81
0.47
14.17%
AU:ALL
Aristocrat Leisure
64.40
-4.88
-7.05%
AU:SGR
Star Entertainment Group Limited
0.14
0.03
27.27%
AU:PBH
PointsBet Holdings
0.89
-0.38
-29.76%
AU:TAH
Tabcorp Holdings Limited
0.92
0.23
32.99%
AU:TLC
Lottery Corporation Limited
5.38
0.13
2.42%
Reef Casino Corporate Events
Iris Makes Reef Casino Takeover Bid Unconditional as Control Passes 80% Threshold
Aug 6, 2026
Iris Cairns Property Pty Ltd, as trustee for the Iris Cairns Property Trust, has declared its off-market takeover offer for all units in Reef Casino Trust unconditional after receiving all required regulatory approvals and waiving remaining defeat...
Iris Eases Conditions on Off-Market Bid for Reef Casino Trust
Jul 24, 2026
Iris Cairns Property Pty Ltd, as trustee for the Iris Cairns Property Trust, has issued a fourth supplementary bidder’s statement in relation to its off-market takeover bid for all units in Reef Casino Trust. The bidder confirmed that key de...
Reef Casino Trust Lifts Half-Year Profit and Flags $3.4m Distribution
Jun 19, 2026
Reef Casino Trust has issued an estimated distribution for the six months to 30 June 2026 of 6.83 cents per unit, or about $3.4 million in total, in line with its policy of distributing 100% of distributable profit. The final distribution will be ...
Reef Casino Trust Sets Six-Month Distribution for June 2026 Period
Jun 19, 2026
Reef Casino Trust has declared a distribution of AUD 0.0683 per fully paid ordinary unit for the six‑month period ending 30 June 2026. The ex‑distribution date is set for 29 June 2026, with a record date of 30 June 2026 and payment to ...
Reef Casino Trust Lifts 2025 Profit on Strong Domestic Trade and Capital Upgrades
May 26, 2026
Reef Casino Trust reported a stronger 2025 financial performance, with distributable profit rising to $10.8 million, supported by higher rental income from the Reef Hotel Casino and tight control of operating expenses despite increased regulatory ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.