Online Good For Tabcorp


15th October, 2013 at 06:15:38

Bolsters softer retail results

Australian betting firm Tabcorp Holdings reported a rise in revenue for the three months ending September 30, 2013 which is mainly attributed to strong growth in online gambling and fixed-odds betting as the company reported a softer quarter in retail.

Key performance highlights include:

- Quarterly revenue of AUD$503.9 million, up 3.1 per cent (Q1/2012: AUD$488.9 million)over the same period last year.

- Expanded racing and sporting event portfolio contributed towards a 30% increase in fixed-odds revenue.

- TAB Outlet wagering revenue amounted to AUD$385 million, up 5.4 percent.

- Digital waqgering turnover amounted to AUD$656.1 million, up 14 percent.

- Revenue from the company's online gambling operation Luxbet grew 37 percent

David Attenborough, chief executive of Tabcorp commented: ''The first-quarter revenue growth demonstrates the resilience of Tabcorp's business in tough external trading conditions.''

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