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Reef Casino
(Sydney:RCT)
Reef Casino (RCT) vs. iShares MSCI Australia ETF (EWA)
Reef Casino Business Overview & Revenue Model
Reef Casino Financial Statement Overview
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 25.24M | 25.93M | 30.51M | 26.86M | 15.66M |
| Gross Profit | 16.80M | 17.33M | 22.92M | 19.16M | 8.43M |
| EBITDA | 15.34M | 15.71M | 22.64M | 19.61M | 8.99M |
| Net Income | 5.08M | 5.37M | 8.99M | 7.36M | -209.00K |
Balance Sheet | |||||
| Total Assets | 101.13M | 102.55M | 107.36M | 104.44M | 100.29M |
| Cash, Cash Equivalents and Short-Term Investments | 3.19M | 7.34M | 13.74M | 9.62M | 4.08M |
| Total Debt | 1.00K | 85.16M | 85.45M | 85.55M | 85.25M |
| Total Liabilities | 89.78M | 91.04M | 93.12M | 91.61M | 91.48M |
| Stockholders Equity | 11.35M | 11.51M | 14.23M | 12.83M | 8.80M |
Cash Flow | |||||
| Free Cash Flow | 6.38M | 10.04M | 19.40M | 16.61M | 6.77M |
| Operating Cash Flow | 14.57M | 16.75M | 22.37M | 19.78M | 8.40M |
| Investing Cash Flow | -8.18M | -6.71M | -2.97M | -3.17M | -1.63M |
| Financing Cash Flow | -10.54M | -16.45M | -15.27M | -11.07M | -5.65M |
Reef Casino Technical Analysis
Reef Casino Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $179.28M | 17.63 | 45.08% | 5.02% | -2.89% | -5.33% | |
63 Neutral | €17.61B | 13.39 | 15.56% | 3.61% | -0.67% | -125.81% | |
| ― | $166.24M | ― | -127.99% | ― | ― | ― | |
| ― | $1.07B | ― | -42.74% | 1.75% | ― | ― | |
| ― | $103.85M | ― | -36.49% | ― | ― | ― | |
79 Outperform | AU$55.54M | 1.42 | 26.04% | ― | 23.66% | 589.13% | |
40 Underperform | AU$323.04M | ― | -99.47% | ― | 76.49% | -75.29% |
Reef Casino Corporate Events
Reef Corporate Services Limited, responsible for the Reef Casino Trust, has received an unsolicited proposal from Morris Group to acquire all issued units in RCT through an off-market cash takeover. The proposal, valued at approximately A$184 million, is similar to an existing offer from Iris Cairns Property Pty Ltd. The proposal also includes the acquisition of Casinos Austria International (Cairns) Pty Limited and RCSL by Morris Group. The Independent Board Committee is evaluating the proposal, and unitholders are advised to take no action at this time. The directors continue to recommend the Iris Offer unless a superior proposal arises.
Reef Casino Trust has entered into a Takeover Bid Implementation Agreement with Iris Cairns Property Pty Ltd, which involves an off-market cash takeover bid valued at approximately A$177 million. The offer is supported by RCT’s Independent Board Committee and its two largest unitholders, Accor and Casinos Austria International, who hold over 70% of RCT’s units. The bid represents a significant premium over recent trading prices and is subject to regulatory approvals and other conditions. If successful, this takeover could significantly impact RCT’s market positioning and shareholder value.
Reef Casino Trust has announced an estimated distribution of 6.60 cents per unit, totaling approximately $3.30 million, for the first half of 2025. This reflects the Trust’s policy of distributing all distributable profits, with the final decision to be made in August after the approval of audited results. The estimated net profit for the period is around $1.65 million after accounting for distributions treated as finance costs.
Reef Casino Trust has announced a new distribution of AUD 0.066 per ordinary unit, with the ex-date set for June 27, 2025, and the payment date scheduled for September 10, 2025. This announcement reflects the company’s financial performance over the six-month period ending June 30, 2025, and may impact investor returns and market positioning.
During the 2025 Annual General Meeting, Reef Casino Trust announced several board changes, including the appointment of a new Chair and other key positions. The Trust reported a stable financial performance for 2024, with total revenue of $25.5 million, primarily from rental income, despite higher operational costs. The Trust declared a total distribution of 20.42 cents per unit for 2024, reflecting its strong financial health and commitment to returning profits to unitholders. Additionally, the Trust renegotiated its loan facility, maintained a healthy balance sheet, and invested in capital expenditures to enhance its offerings and ensure sustainable operations.
Reef Casino Trust has announced an estimated distributable profit for the first half of 2025 ranging between $3.2 million and $3.8 million, a decrease from the $4.336 million reported in the same period of 2024. This decline is attributed to increased regulatory and compliance costs, as well as expenses related to a potential control transaction. Despite these challenges, the Trust has maintained comparable revenues to the previous year and anticipates continued profitability through May. A further announcement regarding unit distribution is expected in June.