Chinese visitors boost Reef Casino

 

Profits for the Reef Casino Trust, which owns the Reef Hotel Casino in Cairns, rose 29 percent to A$2.49 million ($2.29 million) in the first six months of 2013 from the same period last year as revenues rose 10.4 percent to A$9.88 million. Table game revenues for the casino, operated by Casinos Austria, rose 15.1 percent while gaming machine volumes rose 4.3 percent. The company credited its gains to a 12 percent rise in visitation, in part from a strategic focus on drawing Chinese visitors. The casino’s monopoly in Cairns is under threat from Hong Kong businessman Tony Fung’s planned A$4.2 billion Aquis Great Barrier Reef casino resort.