Reef Casino profits increase
Reef Casino's profits rose to $7.1 million for the second half of 2025, benefiting from increased tourism and gaming revenue.Summary
The owner of the Reef Hotel Casino in Cairns reported a profit increase of approximately $1.3 million for the six months ending December 31, 2025, reaching $7.1 million. This represents an increase from $5.8 million in 2024 and $3.3 million in the first half of 2025, bringing the total annual profit to $10.4 million. The Reef Casino Trust attributes this growth to a strong high season in Cairns, resulting in increased visitation, gaming revenues, and hotel bookings. The trust intends to distribute 100% of the $7.1 million profit to unitholders. However, a takeover bid by Iris Capital, led by Sam Arnaout, for $192.7 million is currently delayed due to ongoing investigations by the Queensland Government’s Office of Liquor and Gaming Regulation, with a requested extension until May 31st.
(Source：Cairns Local News)