The Reef Casino Trust, which currently manages The Reef Hotel Casino, the only casino resort in Cairns, announced that it is to partially refurbish the venue after the terminated acquisition deal with Hong Kong businessman Tony Fung and Aquis Developments.
In addition, the trust is also planning to introduce new marketing initiatives as well as a new loyalty program, in order to attract the attention of players from Singapore and the Asia-Pacific region as a whole.
As mentioned above, last year, the Reef Casino Trust was close to being purchased by Mr. Fung’s Aquis. The deal, however, never got completed and the trust’s management pointed out that they can now pay more special attention to capital investment.
Allan Tan, Chief Executive Officer of The Reef Hotel Casino, commented that the property is to launch a new loyalty program by the end of this year’s first half. The decision came after it was announced that electronic gaming is thriving at the casino.
Furthermore, Mr. Tan noted that The Reef Hotel Casino will introduce new marketing initiatives targeting mainly Singaporean high rollers. This move was attributed to the new flight service from Cairns to Singapore.
During the Reef Casino Trust’s annual general meeting, which took place in Cairns, Mr. Tan told shareholders that the board will remain focused on developing the business and “delivering consistent and reliable earnings growth.”
The casino had already been repainted and the installation of a new car park system had been completed. In addition, the Tamarind restaurant is also expected to be revamped.
It also became clear at the meeting that the board had considered for certain public areas on the complex’s grand floor to be revamped, including both the hotel and casino lobby.
As Mr. Tan himself pointed out, electronic gaming operations proved to be quite profitable for the casino due to the introduction of new games and promotions, as well as to improvements in the existing loyalty programs.
As for the table games, their performance was highly dependent on the Chinese economy, as the majority of players who bet on table games are coming primarily from Mainland China. The new direct flight service from Singapore to Cairns was also considered to be beneficial to the hotel and casino property.
Ben Macdonald, Chairman of the Reef Casino Trust, commented that its profit since the beginning of 2015 has increased compared to the same period in 2014. In addition, he pointed out that the trust’s performance during this year’s first four months was solid.
