6 months ended
31 Dec 1998
(Unaudited)
$'000

6 months ended
31 Dec 1997
(Unaudited)
$'000

12 months ended
30 Jun 1998
(Audited)
$'000

CASH FLOWS RELATED TO
OPERATING ACTIVITIES

Cash was provided from:

Receipts from customers

127,216

121,622

240,390

Interest received

369

256

551

Dividends received

38

20

20

127,623

121,898

240,961

Cash was applied to:

Payments to suppliers
and employees

65,352

63,976

126,124

Management termination fee

20,328

-

-

Interest paid

9,731

12,193

26,164

Gaming taxes paid

4,509

4,359

8,805

Income taxes paid

6,692

283

7,262

Net GST paid/(received)

(2,469)

(2,428)

550

104,143

78,383

168,905

Net Cash Flows from
Operating Activities

23,480

43,515

72,056

CASH FLOWS RELATED TO
INVESTING ACTIVITIES

Cash was provided from:

Sale of fixed assets

17

-

80

Cash was applied to:

Purchase and construction
of fixed assets

11,306

5,676

12,331

Interest paid - capitalised

-

1,399

1,399

Pre-opening expenses

-

1,438

1,512

Net GST received

-

(150)

(213)

11,306

8,363

15,029

Net Cash Flows from
Investing Activities

(11,289)

(8,363)

(14,949)

CASH FLOWS RELATED TO
FINANCING ACTIVITIES

Cash was provided from:

Proceeds of short-term debt

-

15,000

15,000

Proceeds of long-term debt

44,000

-

8,000

44,000

15,000

23,000

Cash was applied to:

Repayment of short-term debt

18

24,000

34,034

Repayment of long-term debt

22,000

-

6,000

Distributions to shareholders

16,521

19,500

31,500

Repurchase of shares

8,511

-

10,501

47,050

43,500

82,035

Net Cash Flows from
Financing Activities

(3,050)

(28,500)

(59,035)

NET INCREASE/(DECREASE)
IN CASH HELD

9,141

6,652

(1,928)

RECONCILIATION OF CASH

Opening cash and bank

11,749

13,677

13,677

Net increase/(decrease)
in cash held

9,141

6,652

(1,928)

CLOSING CASH AND BANK

20,890

20,329

11,749

RECONCILIATION WITH
OPERATING SURPLUS

Reported surplus after taxation

22,438

16,771

2,471

Items not involving cash flows

Depreciation expense

12,396

11,459

23,790

Pre-opening expense

-

2,392

28,694

Increase/(Decrease) in provisions

35

241

(13)

Increase in deferred taxation

1,623

6,834

1,786

Impact of changes in
working capital items

Decrease/(Increase) in accounts
receivable and prepayments

(875)

1,508

1,310

Decrease/(Increase) in inventory

(61)

(94)

42

Decrease/(Increase) in
pre-paid income tax

3,710

1,300

(7,122)

Increase/(Decrease) in
creditors and accruals

(18,170)

673

21,133

Movement in GST payable

2,384

2,431

(194)

Items classified as
investing activities

Loss on disposal of assets

-

-

159

NET CASH FLOW FROM
OPERATING ACTIVITIES

23,480

43,515

72,056