Tabcorp maintains wagering & revenue performance despite tough Q3 comparative period

tabcorp
David Attenborough

Tabcorp governance stated that it was pleased with corporate performance, as the Australian operator maintained bet wagering levels in-line with 2014’s corresponding period which featured the FIFA 2014 World Cup.

Issuing a Q3 2015 trading update, Tabcorp detailed that wagering turnover had been maintained at AUS $3.1 billion (£1.5 billion). Tabcorp’s maintained wagering activity would record a group revenue increase of 1.1% to AUS $543 million (£252 million).

Detailing division performance, Tabcorp saw its fixed odds racing enterprise TAB Racing record a revenue uplift of 4.7% to AUS $415.3 million. However  concerns were raised regarding TAB Sports betting  21% revenue decline to AUS $53.1 million (£24.6 million).

Elsewhere, Keno revenue rose 2.8 per cent to $55.8m while gaming services revenues were up 5.2 per cent to $26.4m after the company signed another NSW venue, taking its poker machine numbers to over 9400.

Tabcorp Chief Executive David Attenborough, stated that he believed that company to be “well positioned” deliver on targets and future performance, as the company seeks to return a 14% return on invested capital for 2017.

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