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Tabcorp fiscal Q3-2015

Monday May 4,2015 :  WAGERING AND MEDIA DRIVE MODEST GROWTH AT TABCORP
 
Overall revenues up 3.3 percent in Australian betting group's fiscal Q3-2015.
 
The Australian betting group  Tabcorp Holdings Limited provided a trading update Monday for the third quarter of its fiscal 2015 financial year.
 
Reported Q3-2015 group revenue was A$ 508.7 million, up 3.3 percent on the prior corresponding period. Year-to-date revenue is A$1,623.9 million, up 5.6 percent y-o-y.
 
“Tabcorp achieved revenue growth in the third quarter, driven by the performance of our Wagering and Media business,” said managing director and CEO, David Attenborough.
 
“It was pleasing to see the momentum in Wagering continue on the back of a strong first half, which included a successful Soccer World Cup.”
 
Wagering and Media revenue for Q3-2015 was up 5.6 percent at A$440.6 million. Revenue in the Gaming Services business, TGS, was A$24.2 million, flat to the prior year as growth was impacted by lower interest revenue, the result of reduced loan volumes.
 
Media revenue grew 9 percent to A$43.6 million, supported by the contribution from the international business.
 
Total TAB racing revenue increased in the thrid quarter to A$396.7 million - up 6.3 percent. The growth in racing was driven by Fixed Odds products with revenues of A$105.8 million, up 31.9 percent, while totalisator revenue trends improved marginally relative to the first half.
 
TAB Sports revenue was down almost 2 percent at A$44.5 million - the result of strong yields in the comparable period last year.
 
Online operation Luxbet's revenue waned due to "unfavourable yield movements," with revenue down 12.6 percent at A$12.5 million but still up 14 percent YTD at A$39 million.
 
Digital turnover was A$814.8 million, up 16.8 percent, with Management reporting that Tabcorp continues to progress the integration of its exclusive retail and digital channels as part of its multi-channel approach.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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