Tabcorp revenue up 3.3 percent in Q3 financial year

Sunday 3rd of May 2015

Tabcorp Holdings Limited reported a 3.3 percent increase in revenue in the third quarter of its 2015 financial year.

The group’s revenue amounted to $508.7 million during this period, while its year-to-date revenue is $1.6 billion, up 5.6 percent on the prior corresponding period.

“Tabcorp achieved revenue growth in the third quarter, driven by the performance of

our Wagering & Media business,” said CEO David Attenborough.

“It was pleasing to see the momentum in Wagering continue on the back of a strong

first half, which included a successful Soccer World Cup.”

Wagering and Media revenue for 3Q15 was $440.6 million, up 5.6 percent, with the fixed odds and digital wagering being the dominant drivers of the revenue growth.

Keno revenue was down 13.8 percent to $43.9 million due to a disproportionate number of jackpot prizes being won by customers across all three states, the company said. The revenue impact of these additional jackpots was approximately $6 million.

Total TAB racing revenue increased in 3Q15 by 6.3 percent to $396.7 million, driven by Fixed Odds products with revenues of $105.8 million, up 31.9 percent.

“TAB Sports revenue was $44.5 million, down 1.8%, as a result of strong yields in the pcp. Luxbet revenue was impacted by unfavourable yield movements,” the company said.