Australia's Reef Casino Trust said it expects distributable profit for the second half to be about $8.5 million, up from $5.2 million in the second half of last year, explaining it has had a solid second half with good rental income from the Reef Casino Hotel.
Faced with the ongoing onslaught of negative news from around the world, you may have missed a few things this week that when put together point to a more optimistic view of Asia’s gambling industry.
Reef Casino Trust said it has had a solid start to the second half of the year after the reopening of the Reef Hotel Casino in July, which generated rental income and resulted in a "strong" profit for the quarter.
Reef Casino Trust, operator of the Reef Hotel Casino in Cairns, has reported a loss of nearly A$23.7 million (US$17.1 million) for the first six months of 2020. Revenues for the half year fell 75.5 percent year-on-year to under A$1.9 million. The casino was ordered by the government of Queensland to suspend operations on March […]
Star Entertainment says it moves to the next stage in reopening at its Sydney property from Wednesday, whilst casinos in Queensland get ready to open their doors from Friday.
The Reef Casino Trust reported to the Australian Securities Exchange on Wednesday that it anticipates that the Queensland government will allow it to reopen the Reef Hotel Casino in Cairns on July 11. The state government had mandated the closure due to the Covid-19 crisis on March 23. “This closure has resulted in no rental […]
In line with government orders, the various casino operators of Australia confirmed the suspension of their operations on Monday. Crown Resorts CEO Ken Barton said, “Covid-19 has created unprecedented challenges for Crown and many others in Australia. In accordance with the statements issued by the Commonwealth Government and the Direction of the Victorian Deputy Chief […]