Response to Iris Bidder's Statement
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Hospitality industry billionaire Sam Arnaout has moved to mop up the remaining units in Cairns casino owner Reef Casino Trust (ASX: RCT) after his investment vehicle Iris Capital secured majority control in a $192.7 million takeover bid completed last month. The deal, which includes the 128-room Pullman hotel, will give Arnaout full control of ...
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Reef Casino Trust (ASX:RCT) units are now subject to an unconditional off-market takeover bid after Iris Cairns Property Pty Ltd, acting as trustee for the Iris Cairns Property Trust, declared its offer free of all remaining defeating conditions, as detailed in the Fifth Supplementary Bidder's Statement lodged with the Australian Securities and Investments Commission on 6 August 2026. Key Points Iris Cairns has made its off-market takeover offer for all RCT units unconditional, having secured...
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