Coast Entertainment Holdings Limited Provides an Initial Update

Despite severe storms and socioeconomic headwinds, Coast Entertainment Holdings Limited (ASX: CEH) achieved a solid result for FY24. Driven by new attractions and advertising efforts, ticket sales rose 3.1% from the previous year and were 42.1% over pre-COVID levels. The number of visitors increased by 14.3% overall, while income increased to AU$87.0 million, up 3.8% annually and 29.6% over pre-COVID levels.

Sky Point capitalized on local and interstate markets to reach record sales and EBITDA. With certain items excluded, the Group expects its first positive consolidated EBITDA since FY16. Damage claims from insurance are being processed, even with the summer storms. The Group maintained its share buyback program and had AU$89.2 million in cash as of June 25, 2024.

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