Reef Casino Trust (ASX:$RCT) Estimated Distribution Announcement

Reef Casino Trust (ASX:RCT) has announced an estimated distribution of 12.25 cents per unit for the six months ending 31 December 2023, totaling approximately $6.1 million. The distribution reflects RCT's policy to distribute 100% of distributable profit. The actual distribution will be determined and approved at the RCT Board meeting scheduled for 22 February 2024, following the approval of the audited results for the year. The estimated total distribution for the full year 2023 is 21.69 cents per unit, equating to approximately $10.8 million in distributable profit, compared to the actual distributable profit of $18.0 million for 2022, which was a record result for the Trust.

Executive Commentary on Estimated Distribution and Trading Update

The estimated distribution for the six months ending 31 December 2023 reflects our commitment to distributing 100% of distributable profit. The lower distributable profit for 2023 compared to 2022 is primarily attributed to persistent inflationary pressure on costs, settlement with the tenant of the Cairns Zoom and Wildlife Dome, and increases in direct Trust costs, including energy, insurance, and major maintenance. We anticipate the total distribution for the full year 2023 to be 21.69 cents per unit, equating to approximately $10.8 million in distributable profit, reflecting the challenging operational environment. The estimated net profit for the full year 2023 is approximately $5.4 million after deducting distributions to unitholders, which have been treated as finance costs in accordance with IFRS.

Summary of Reef Casino Trust's Estimated Distribution and Trading Update

Reef Casino Trust (ASX:RCT) has announced an estimated distribution of 12.25 cents per unit for the six months ending 31 December 2023, totaling approximately $6.1 million, in line with its policy to distribute 100% of distributable profit. The estimated total distribution for the full year 2023 is 21.69 cents per unit, equating to approximately $10.8 million in distributable profit, reflecting a decrease from the record distributable profit of $18.0 million in 2022. The lower distributable profit for 2023 is attributed to persistent inflationary pressure on costs, settlement with the tenant of the Cairns Zoom and Wildlife Dome, and increases in direct Trust costs. The estimated net profit for the full year 2023 is approximately $5.4 million after deducting distributions to unitholders, which have been treated as finance costs in accordance with IFRS. The Trust anticipates a challenging operational environment and aims to navigate through the impacts of inflationary pressures and cost increases.