SBC News Voice of the Sports Betting Industry
Tatts Group CEO Robbie Cooke, has outlined that the unifying UBET brand and operations, will be the key driver of Tatts Group future corporate growth.
Presenting 2014/2015 year end results (period ending 30 June), Tatts group posted net profits of AUS $252 million (£117 million) up 25% on the corresponding years performance of AUS $200.4 million.
Driven by record sales in its lotteries division, which saw revenues rise 2.8% to AUS $1.98 billion (£900 million), with operating efficiencies helping the division produce a 5.9% rise in EBIT earnings to $287.5 million (£133 million)
The strong lottery sales, combined with additional revenue uplifts to its online business divisions of 12.5% would see Tatts record group 2014/2015 revenue uplift of 1.8% to AUS $ 2.92 billion (£1.36 billion).
The operators positive 2014/2015 performance has been hindered by a 1.5% wagering decline in its retail betting division to AUS 623 million (£290 million). Tatts governance has outlined the turnaround of the division as a corporate goal for the upcoming financial year.
Key to its strategy, will be the development of the UBET brand, which unified Tatts regional retail betting businesses and operations under a single brand and entity.
“We are confident that we can bring our retail network back into growth,” Mr Cooke said this morning. Cooke noted that the two test UBET betting shops (launched in April) had generated a stronger sales performances than regular Tatts group retail enterprises.
Following the live retail test period, Cooke announced that Tatts governance had signed-off on the roll-out of 50 refurbished UBET stores to be up and running by the end of 2015.
Cooke stated that this was the beginning of Tatts two year master plan, to turnaround its retail wagering performance and transform UBET into Australia’s the leading sports betting operator as the market sees increased competition.
