Coast Entertainment Holdings reported a sharp rebound in profitability for the year ended June 30, with underlying earnings before interest, tax, depreciation and amortization rising 113.6% to $18.8 million on a reported basis and 118.1% on a like-for-like basis. Operating revenue climbed 20.8% to $116.5 million, driven by a 33.0% increase in ticket sales.
The Gold Coast-based operator returned to statutory net profit after tax at $1.6 million, reversing a $0.1 million loss in the prior year. EBITDA margins expanded to 16.1% excluding specific items, up 7.3 percentage points on a like-for-like basis. Operating cash flow more than doubled to $19.7 million, while deferred revenue rose 58.7% to $20.2 million.
Coast maintained a debt-free balance sheet with $35.0 million in cash and a fully undrawn $20 million revolving credit facility. Capital expenditure totaled $16.0 million, fully funded by operating cash flow, alongside $3.7 million in share buybacks. Total visitation reached 2.0 million guests, the highest since fiscal 2016, though attendance remains 17% below pre-pandemic levels.
Asset valuations were marked up significantly, with Dreamworld’s fair value assessed at $295.9 million, a $102.7 million uplift above its $193.2 million book value. SkyPoint’s valuation rose to $51.7 million from a $10.2 million carrying amount. Proforma net assets increased to $418.4 million, or $1.08 per share, 87% above reported net assets of $224.2 million.
A July 2026 planning approval for the group’s 55-hectare Coomera landholding unlocked further development potential, including a 23.53-hectare major tourism core and a 15.02-hectare gateway precinct for hotels and hospitality. The approval follows the opening of new attractions such as WILD with Australian Geographic in September 2025 and The Big Brother Experience in November 2025, which drew 5.5 million viewers across its season.
Coast guided FY27 capital expenditure of approximately $17 million, with the Lost Mine Mayhem ride slated for late 2027 at an estimated cost of up to $20 million. Shares fell 3.7% to $0.505 after the results were released.
