Reef Casino Trust estimated distribution and operating results update

Reef Casino Trust (ASX: $RCT) has announced the estimated distribution for the six months ending 30 June 2024, amounting to 8.24 cents per unit, approximately totaling $4.10 million. The actual distribution will be determined and approved at the board meeting scheduled for 22 August 2024, following the approval of the audited results. Additionally, the Trust provided an update on its operating results for the half year ending 30 June 2024, estimating a net profit of approximately $2.05 million after deducting distributions to unitholders, which have been treated as finance costs in accordance with IFRS.

Reef Casino Trust operating results and estimated distribution commentary

The Trust's estimated distribution for the six months reflects its policy to distribute 100% of distributable profit. The update on operating results indicates a profitable period from January to May 2024, with comparable rental income from the Reef Hotel Casino complex to the same period last year. However, Trust costs have increased due to higher insurance and administration costs, as well as essential building maintenance works required. The estimated net profit for the six months ending 30 June 2024 is approximately $2.05 million after deducting distributions to unitholders, which have been treated as finance costs in accordance with IFRS.

Reef Casino Trust estimated distribution and operating results summary

Reef Casino Trust (ASX: $RCT) has estimated a distribution of 8.24 cents per unit for the six months ending 30 June 2024, aligning with its policy to distribute 100% of distributable profit. The Trust's operating results update indicates a profitable period from January to May 2024, with comparable rental income from the Reef Hotel Casino complex to the same period last year. However, increased Trust costs due to higher insurance and administration costs, along with essential building maintenance works, have impacted the estimated net profit for the period, which is approximately $2.05 million. The actual distribution will be determined and approved at the board meeting scheduled for 22 August 2024, following the approval of the audited results.