UPDATE 1-Gold Reef FY adj headline EPS falls as volumes drop

* Revenue up 29.1 percent

* Says well positioned to benefit from lower interest rates

(Adds details)

JOHANNESBURG, March 16 (Reuters) -South African gaming and resorts firm Gold Reef Resorts (GDFJ.J) posted a 9.4 percent drop in full year adjusted headline EPS after trading volumes contracted due to weaker consumer spending.

Gold Reef, which operates casinos such as Silverstar and Queens Casino, said headline earnings per share adjusted for one-off items fell to 136.5 cents in the year to end-December versus 150.7 cents.

The company said revenue rose 29.1 percent to 2.2 billion rand ($219.8 million), boosted by the full inclusion of its new Silverstar casino.

Gold Reef, which declared a dividend of 65 cents per share, said it remained well positioned to benefit from lower interest rates and inflation and said it was appropriately geared without onerous debt requirements. (Reporting by Tiisetso Motsoeneng)