Australia's Reef Casino Trust gains most in 5 years on takeover offer

Reef Casino Trust

14/07/2025 02:16

** Shares of Reef Casino Trust RCT.AX rise as much as 13.6% to A$3.43, their biggest pct gain since April 30, 2020

** The casino manager receives an off-market cash takeover bid from Iris Cairns Property Pty for all of the company's shares for A$177 million ($116.45 million)

** Offer price of A$3.5541 per share, a 17.69% premium to the closing price of A$3.02 on July 11

** YTD, shares up 18.3%

($1 = 1.5200 Australian dollars)

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))