• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 31 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Tabcorp reports healthy profit in 1H21 as lottery and wagering divisions hold firm against COVID-19 impact

Ben Blaschke by Ben Blaschke
Wed 17 Feb 2021 at 12:00
Tabcorp cleared as Australian Federal Police close investigation into Cambodia sports betting bribery claims
15
SHARES
384
VIEWS
Print Friendly, PDF & Email

Australian racing and wagering giant Tabcorp has reported a 7.0% year-on-year decline in net profit after tax to AU$185 million (US$144 million) for the six months to 31 December, primarily impacted by COVID-19.

Publishing its 1H21 financial results on Wednesday, Tabcorp revealed a group-wide decline in revenues of just 1.5% to AU$2.87 billion (US$2.22 billion) for the period and a 6.2% fall in EBITDA to AU$560 million (US$434 million), most of which was felt via its Gaming Services division.

Revenues within Gaming Services were down 51.0% year-on-year to AU$73 million (US$57 million) and EBITDA by 66.7% to AU$22 million (US$17 million) as a result of licensed venues operating under social distancing restrictions and, in the case of greater Melbourne, only reopening in November 2020. Victoria delivers around 30% of the business unit’s revenues, Tabcorp said.

More resilient were the company’s Lotteries & Keno and Wagering & Media segments.

Lotteries & Keno registered a 1.6% increase in revenues to AU$1.61 billion (US$1.25 billion) and 5.4% improvement in EBITDA to AU$311 million (US$241 million), including 12.8% growth in Keno revenues “supported by a very strong digital performance.”

Wagering & Media revenues were AU$1.19 billion (US$922 million), up 0.8% year-on-year, while EBITDA fell 3.0% to AU$227 million (US$176 million). Once again, digital led the way during COVID-19 with digital turnover up 43% and digital revenue up 34%. Tabcorp’s digital customer base also grew 17%.

“Retail remains a profitable and valuable channel, however, the COVID-19 shutdowns and restrictions (especially in Victoria) contributed to retail turnover declining 28%,” it added. “Excluding Victoria, retail turnover was down 9%.”

Commenting on the company’s half year results, Tabcorp Managing Director and CEO David Attenborough said, “We are experiencing a strong recovery following the recent market challenges. The COVID-19 pandemic continued to impact Tabcorp’s group earnings in 1H21, with the retail closures and restrictions, especially in Victoria, having a material impact. However, we are pleased with the way our teams and partners responded to the substantial operational challenges the pandemic presented.

“COVID-19 has clearly demonstrated the importance of serving customers with a seamless, multi-channel experience. Investments made to modernize our digital offering in recent years drove significant benefits.”

RelatedPosts

Ainsworth flags 1H25 revenue growth on Australian market strength but Novomatic takeover facing opposition by family of founder

Ainsworth chair says higher R&D investment necessary to boost global market competitiveness

Thu 29 May 2025 at 05:49
A moral defense of gambling

A moral defense of gambling

Wed 28 May 2025 at 18:19
Scientific Games among two new lottery suppliers granted UAE vendor licenses

Scientific Games among two new lottery suppliers granted UAE vendor licenses

Wed 28 May 2025 at 06:06
Australia’s Star Entertainment Group says available cash halved in December 2024 quarter as liquidity crunch bites again

Bally’s wants broad review of Star’s operations if AU$300 million investment proposal approved by shareholders

Tue 27 May 2025 at 06:09
Load More
Tags: AustraliaDavid AttenboroughGaming and Wagering Commission of Western Australiahorse racinglotteryTabcorpwagering
Share6Share1
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

10 Years Ago – Reimagining Sri Lanka

Sri Lanka gazettes draft bill to establish Gambling Regulatory Authority

by Newsdesk
Sat 31 May 2025 at 06:03

A draft bill that would establish an official regulator for the Sri Lankan gaming industry, to be known as the Gambling Regulatory Authority, has taken another step forward after being gazetted. According to the Sri Lanka Mirror, the official announcement...

RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to

by Newsdesk
Sat 31 May 2025 at 05:53

Malaysian gaming product distributor RGB International Bhd has reported group-wide revenue of MYR73.6 million (US$17.3 million) for the three months to 31 March 2025, down 65% year-on-year due to a lower number of products sold. The figure was also 79%...

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English