Even a nearly 30 per cent increase in revenue did not stop net profits from slipping 2.6 per cent at the Australian Tourism Group , with the annual results weighted down by the poor performance of the Reef Casino Trust .

ATG is the largest unit holder in the Cairns casino complex which, earlier this week, announced a loss before tax and abnormals of $4.95 million for its first five months of operation, citing lower than anticipated occupancy rates, and food and beverage sales.