Australian (ASX) Casinos and Gaming Industry Analysis

Industry Valuation and Performance

Has the Australian Casinos and Gaming Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Mon, 17 Aug 2026	AU$54.9b	AU$14.8b	AU$1.6b	26.2x	34.2x	3.7x
Wed, 15 Jul 2026	AU$53.5b	AU$14.8b	AU$1.6b	25.1x	33.3x	3.6x
Fri, 12 Jun 2026	AU$48.6b	AU$14.8b	AU$1.6b	21.9x	30.3x	3.3x
Sun, 10 May 2026	AU$44.3b	AU$15.0b	AU$1.3b	23.9x	34.2x	2.9x
Tue, 07 Apr 2026	AU$44.5b	AU$15.0b	AU$1.3b	23.6x	34.4x	3x
Thu, 05 Mar 2026	AU$45.0b	AU$15.0b	AU$1.3b	23.7x	34.7x	3x
Sat, 31 Jan 2026	AU$62.6b	AU$19.6b	AU$1.7b	27.8x	36.1x	3.2x
Mon, 29 Dec 2025	AU$64.6b	AU$19.8b	AU$1.8b	29.9x	36.7x	3.3x
Wed, 26 Nov 2025	AU$51.6b	AU$15.0b	AU$1.2b	31.2x	44.3x	3.4x
Fri, 24 Oct 2025	AU$57.4b	AU$15.5b	AU$1.1b	34.3x	50.2x	3.7x
Sun, 21 Sep 2025	AU$60.0b	AU$15.5b	AU$1.1b	27.9x	54.6x	3.9x
Tue, 19 Aug 2025	AU$59.8b	AU$15.7b	-AU$1,149,260,495.00	16.6x	-52x	3.8x
Thu, 17 Jul 2025	AU$57.4b	AU$15.7b	-AU$1,149,260,495.00	15.9x	-50x	3.7x
Sat, 14 Jun 2025	AU$55.6b	AU$15.7b	-AU$1,149,260,495.00	14.9x	-48.4x	3.6x
Mon, 12 May 2025	AU$57.2b	AU$15.4b	-AU$1,008,160,495.00	15.8x	-56.7x	3.7x
Wed, 09 Apr 2025	AU$51.3b	AU$15.6b	-AU$697,160,495.00	15.5x	-73.6x	3.3x
Fri, 07 Mar 2025	AU$59.6b	AU$15.6b	-AU$697,160,495.00	15.5x	-85.4x	3.8x
Sun, 02 Feb 2025	AU$62.2b	AU$15.5b	-AU$1,363,728,645.00	23.1x	-45.6x	4x
Tue, 31 Dec 2024	AU$58.3b	AU$15.5b	-AU$1,363,728,645.00	23.7x	-42.8x	3.8x
Thu, 28 Nov 2024	AU$57.9b	AU$15.5b	-AU$1,363,728,645.00	24.3x	-42.5x	3.7x
Sat, 26 Oct 2024	AU$51.6b	AU$15.4b	-AU$1,154,728,645.00	21.4x	-44.7x	3.3x
Mon, 23 Sep 2024	AU$51.5b	AU$15.5b	-AU$632,228,645.00	21.6x	-81.5x	3.3x
Wed, 21 Aug 2024	AU$49.2b	AU$14.9b	-AU$61,934,868.00	22.3x	-793.9x	3.3x
Fri, 19 Jul 2024	AU$49.0b	AU$14.9b	-AU$61,934,868.00	21.9x	-791.5x	3.3x
Sun, 16 Jun 2024	AU$45.7b	AU$14.9b	-AU$61,934,868.00	19.5x	-737.9x	3.1x
Tue, 14 May 2024	AU$41.1b	AU$14.7b	-AU$120,234,868.00	17.2x	-341.7x	2.8x
Thu, 11 Apr 2024	AU$43.2b	AU$14.7b	-AU$120,234,868.00	18.3x	-359.2x	2.9x
Sat, 09 Mar 2024	AU$46.6b	AU$14.7b	-AU$122,732,868.00	20.4x	-379.3x	3.2x
Mon, 05 Feb 2024	AU$54.2b	AU$16.7b	-AU$1,140,837,719.00	29.8x	-47.5x	3.3x
Wed, 03 Jan 2024	AU$51.1b	AU$16.7b	-AU$1,140,837,719.00	27.8x	-44.8x	3.1x
Fri, 01 Dec 2023	AU$50.2b	AU$16.7b	-AU$1,140,837,719.00	25.6x	-44x	3x
Sun, 29 Oct 2023	AU$49.3b	AU$16.3b	-AU$1,506,437,719.00	26.9x	-32.7x	3x
Tue, 26 Sep 2023	AU$51.3b	AU$16.3b	-AU$1,514,060,733.00	31.8x	-33.9x	3.2x
Thu, 24 Aug 2023	AU$52.6b	AU$17.5b	-AU$809,387,733.00	28.9x	-65x	3x

Current Industry PE

Investors are optimistic on the Australian Casinos and Gaming industry, and appear confident in long term growth rates.

The industry is trading at a PE ratio of 34.2x which is higher than its 3-year average PE of -103x.

The 3-year average PS ratio of 3.3x is lower than the industry's current PS ratio of 3.7x.

Past Earnings Growth

Total earnings for the Casinos and Gaming industry have gone up over the last three years and the industry is now profitable.
Revenues have declined 3.8% per year.
This means that less sales are being generated overall, but since the cost of doing business is lower, profits have been increasing.

Industry Comparison

How does Australian Casinos and Gaming compare with similar industries?


AU Market	-1.38%
Consumer Discretionary	-1.98%
Hospitality	-1.25%
Casinos and Gaming	-1.30%
Leisure Facilities	2.44%
Restaurants	-0.64%
Hotels, Resorts and Cruise Lines	-1.71%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

	Company	Last Price	7D	1Y	Valuation
	LNW Light & Wonder	AU$137.90	9.3% +AU$901.5m	1.3%	PE27.8x
	JIN Jumbo Interactive	AU$7.65	1.1% +AU$5.1m	-26.5%	PE12.8x

Company

Last Price

Valuation

LNW Light & Wonder

AU$137.90

9.3%
+AU$901.5m

1.3%

PE27.8x

JIN Jumbo Interactive

AU$7.65

1.1%
+AU$5.1m

-26.5%

PE12.8x

Iris Cairns Property Trust completed the acquisition of Reef Casino Trust (ASX:RCT) from Accor Casino Investments Australia Pty Ltd., Casinos Austria International Limited and others.

Iris Cairns Property Trust agreed to acquire Reef Casino Trust (ASX:RCT) from Accor Casino Investments Australia Pty Ltd., Casinos Austria International Limited and others for approximately AUD 180 million on July 11, 2025. A cash consideration valued at AUD 3.5541 per share will be paid by Iris Cairns Property Trust. As of August 20, 2025, Subject to the terms of the Amended TIA, Iris will make an off-market cash takeover bid to acquire all of the ordinary units in RCT (Offer) for AUD 3.72 per unit in respect of the 49.8 million fully paid units on issue in RCT (Units) and will receive approximately AUD 185.3 million. In case of termination of transaction, seller will pay a termination fee of AUD 1.72 million. The amount of the break fee payable by either Iris or RCT under the Amended TIA is increased to AUD 1.85 million. Accor and Casinos Austria International, who collectively have a relevant interest in more than 70% of the units in RCT have advised RCT of their support for the Offer, and have confirmed that they intend to accept the Offer in respect of all of their RCT units within 21 days from the opening of the offer period. Following that, RCT will provide Unitholders with its detailed recommendation in its Target’s Statement, to be sent to Unitholders on or around September 29, 2025, after dispatch of the Bidder’s Statement. As of July 24,2026 the transaction has received regulatory approvals from all relevant Queensland Government agencies. As of August 6, 2026 the offer has been become unconditional. The transaction is subject to approval of merger agreement by target board, 80% minimum tender, subject to antitrust regulations and the Regulatory Conditions being satisfied. The Board of Directors of Reef Casino Trust formed a special committee for the transaction. The deal has been unanimously approved by the board. The expected completion of the transaction is March 13, 2026. The Independent Board Committee established by RCSL (IBC) has considered the Offer and the Directors (both independent and non-independent) unanimously recommend that Unitholders accept the Offer. The Amended TIA is not, and the Offer will not be, conditional upon ACCC approval, as Iris has notified RCT that it has received a notice of no objection from the ACCC on August 15, 2025 in relation to the acquisition of all of the Units. As of August 28, 2025 the price payable per Unit under the Second Amended TIA is increased to AUD 3.87 from Iris’ previous offer of AUD 3.72 per Unit. commensurate with the increase to the aggregate price payable under the Second Amended TIA, the amount of the break fee payable by either Iris or RCT under the Second Amended TIA is increased to AUD 1.927 million. As of August 29, 2025 The Offer is unanimously recommended by the directors. As of February 6, 2026 the offer period is extended up to May 31, 2026. As per the announcement dated March 2, 2026, Iris Cairns Property Trust has extended the Offer Period to August 14, 2026. Karen Evans-Cullen of Gilbert and Tobin acted as legal advisor to Iris Cairns Property Trust. Morgans Corporate Limited acted as financial advisor, Melissa Swain-Tonkin of Herbert Smith Freehills Kramer as legal advisor and Lonergan Edwards & Associates Limited acted as fairness opinion provider to Reef Casino Trust. King & Wood Mallesons acted as legal advisor to Accor and Casinos Austria International. Iris Cairns Property Trust completed the acquisition of Reef Casino Trust (ASX:RCT) from Accor Casino Investments Australia Pty Ltd., Casinos Austria International Limited and others on August 14, 2026..

Australian (ASX) Casinos and Gaming Industry Analysis

Industry Valuation and Performance

Industry Comparison

Top Stock Gainers and Losers

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