Reef Casino Trust (RCT)

Shares / Stock Code

RCT

Stock Exchange / Sharemarket

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Reef Casino Trust (RCT) solely operates in property ownership and property leasing in the tourism, leisure and gaming industry in Australia. RCT listed on the Australian Stock Exchange on February 11, 1994. Reef Casino Trust sources all of its income through the ownership and operation of The Reef Hotel Casino complex which is based in Cairns, North Queensland, Australia. The Reef Hotel Casino comprises a five-star hotel, with 128 rooms, a swimming pool, a sauna, and a gymnasium; a casino having a capacity of 50 gaming tables and 700 machines; a conservatory, nightclub and transit lounge; extensive bar, dining, entertainment and conference facilities; together with a number of retail areas. The Trust is managed by Reef Corporate Services Limited, which is the responsible entity of the Trust. Casinos Austria International Limited and Accor Casino Investments (Australia) Pty Ltd are the joint owners of Reef Corporate Services Limited.

Reef Casino Trust History

RCT was incorporated in Queensland in 1993. It became floated on the ASX in February 1994 after raising $77M in capital with a $105M construction as well as long-term credit facility. Prior to the casino opening on January 31, 1996, it raised a further $20M in capital. The casino was soon faced with difficulties before a recapitalisation facility was proposed in 1999, with the casino’s facilities refurbished in late 2003. In June 2000, Reef Corporate Services became the responsible entity of RCT. Recapitalisation was also completed in June 2000. Reef Corporate Services Limited was granted a Financial Services License in March 2004.