Australian Gambling Operator Tabcorp Shows Good Revenues

Tabcorp revenues grew 2.9 percent to AUS 488.9 million in Q1 2013.

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The Australian gambling company Tabcorp revealed its trading update for the first fiscal quarter of 2013 on Wednesday. The report showed an overall revenue growth of 2.9 percent to AUS 488.9 million year-on-year.

Total Wagering revenue rose by AUS 20.0 million, 4.5 percent year-on-year. After deducting the Victorian Racing Industry’s interest, Tabcorp’s reported Wagering revenue was AUS $384.6 million, a 2.4 percent decrease year-on-year.

The new Wagering and Betting Licence, introduced in Victoria state on 16 August 2012, had a great impact on Tabcorp’s revenue, dropping the firm’ share of its new Victorian Joint Venture from 75 percent to 50 percent.

Keno revenues are up 17.7 percent to AUS 53.9 million, mostly attributed to the game launch in Victoria as well as continued growth in New South Wales and Queensland.

Tabcorp’s Media and International business revenues also grew by 6.2 percent to AUS 49.5 million.

Chief Executive Officer David Attenborough commented: “Tabcorp has started FY2013 well and the company’s strategies continue to deliver improved revenue.”

Attenborough added: “Our investments in expansion initiatives, such as Tabcorp Gaming Solutions and the new Victorian Keno business are contributing to company growth.”

Tabcorp Gaming Solutions (TGS), the firm’s new gaming services provider, started operating on 16 August 2012. TGS has delivered AUS 13.1 million in revenues for the first fiscal quarter.

The Victorian Tabaret’s license expired. However, the operation still managed to contribute AUS $130.2 million to the company revenue.

Fixed odds bets increasingly preferred in Australia

Fixed odds business is up 30.3 percent to AUS 94.7 million, demonstrating the shift toward FOBTS in Australia.

Trackside, the company’s animated racing game operated in 2,700 venues across NSW and Victoria. Reported a revenue growth of 8.7 percent

Tabcorp’s online and telephone betting service, Luxbet, revealed a revenue growth of an amazing 52.8 percent to AUS 8.1 million.

Digital operations involving Australian mobile gambling, but excluding Luxbet, showed a growth of 12.9 percent.

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