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Iris removes minimum condition as Reef Casino Trust bid reaches 79.79%

Deals & M&A

Iris Cairns Property said it had received Queensland government approvals for its Reef Casino Trust takeover and removed the minimum acceptance condition. Its voting power reached 79.79%, and the offer closes on 14 August unless extended. The bidder said it would update investors on remaining conditions by 6 August.

The bid’s remaining conditions and acceptance level will determine whether Iris can acquire the trust or pursue delisting.

End-of-day close Reef Casino Trust (RCT), AUD, to 9 September 2026
Story date11 June 20269 September 2026

Latest reported results

Reef Casino Trust ASX: RCT

Financial year ended 31 December 2025

Revenue
AUD 26.6m
Operating income
AUD 10.9m

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