Wagering and media drive modest growth at Tabcorp
News on 4 May 2015
News on 4 May 2015
The Australian betting group Tabcorp Holdings Limited provided a trading update Monday for the third quarter of its fiscal 2015 financial year.
Reported Q3-2015 group revenue was A$ 508.7 million, up 3.3 percent on the prior corresponding period. Year-to-date revenue is A$1,623.9 million, up 5.6 percent y-o-y.
“Tabcorp achieved revenue growth in the third quarter, driven by the performance of our Wagering and Media business,” said managing director and 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 Q3-2015 was up 5.6 percent at A$440.6 million. Revenue in the Gaming Services business, TGS, was A$24.2 million, flat to the prior year as growth was impacted by lower interest revenue, the result of reduced loan volumes.
Media revenue grew 9 percent to A$43.6 million, supported by the contribution from the international business.
Total TAB racing revenue increased in the thrid quarter to A$396.7 million – up 6.3 percent. The growth in racing was driven by Fixed Odds products with revenues of A$105.8 million, up 31.9 percent, while totalisator revenue trends improved marginally relative to the first half.
TAB Sports revenue was down almost 2 percent at A$44.5 million – the result of strong yields in the comparable period last year.
Online operation Luxbet’s revenue waned due to “unfavourable yield movements,” with revenue down 12.6 percent at A$12.5 million but still up 14 percent YTD at A$39 million.
Digital turnover was A$814.8 million, up 16.8 percent, with Management reporting that Tabcorp continues to progress the integration of its exclusive retail and digital channels as part of its multi-channel approach.
