Shares in Redcape Hotel Group surged to a six-month high on Thursday after the gaming pub owner and operator upgraded both its full-year earnings guidance and distribution payout following improved trading across its NSW-centric portfolio.

The Moelis Australia-backed group, which owns venues such as Minsky’s in Cremorne and the Eastwood Hotel in Ryde, lifted its full-year underlying earnings forecast to 10.2¢ per share, a 5 per cent rise on guidance of 9.7¢ per provided in February.