Operator News
Australia – Strong local demand sees Reef Hotel Casino surpass 2019 revenues
By Phil - 25 May 2021
Despite being shuttered between March and July last year due to the pandemic, Australia casino owner Reef Casino Trust has generated first quarter GGR higher than 2019’s due to a boom in local and domestic players.
Reef Hotel Casino in Queensland turned a Q1 profit of AU$2.88m, compared to a loss of AU$360,000 in Q1 2020, but strong trading after reopening saw revenues surge passed 2019’s level, prior to the pandemic.The property also manage to make a profit in the third and fourth quarters of 2020.
Reef Casino Trust said: “While it is difficult to see a swift return of international visitors to Cairns, our complex should continue to see strong local and regional support. As the Covid-19 vaccination continues to roll out and the State border situation stabilises further, we can expect to see more domestic visitors to Cairns.”
With Australia’s international borders staying closed until at least half way through next year, domestic play has never been so integral before.
