Australia's EVT climbs to record high on Pro-invest Hotels acquisition

EVT

18/08/2025 04:00

** Shares of EVT EVT.AX rise as much as 2.8% to a record high of A$17.990

** Entertainment co says it will buy Pro-invest Hotels, a third-party hotel management co, for A$74 million ($48.18 million)

** Co forecasts that acquisition will deliver normalised EBITDA of nearly A$8 million - A$9 million including synergies on an annualised basis

** YTD, shares up 72.2%

($1 = 1.5359 Australian dollars)

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com))