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Tabcorp fiscal Q1-2015 results

Wednesday October 15,2014 : SOLID Q1-2015 GROWTH AT TABCORP
 
Revenues up 6.6 percent year-on-year in first quarter of fiscal 2015.
 
Tabcorp Holdings has posted a solid set of fiscal Q1-2015 results, with digital interests again turning in a sterling performance.
 
Group revenues for the three months to 30 September 2014 were A$537.4 million, up 6.6 percent on the prior corresponding period, with the Wagering division continuing to build on momentum established in FY14 by delivering quarterly growth of 8 percent, thanks to good performances in both racing and sport.
 
Total Wagering turnover of A$3,004.8 million was up 3.6 percent.
 
“Tabcorp has started the 2015 financial year well. We are seeing the benefits of targeted investment in our channels and products,” managing director and CEO David Attenborough reported.
 
“In Wagering, our investment in recent years in high growth areas such as digital and fixed odds is paying off. We are achieving strong growth in these areas and the business, as a whole, has positive momentum.”
 
Fixed odds products were again a driver of Wagering revenue growth, with revenues up 32.1 percent. This was supported by product expansion and a strong yield performance. The positive trading was also boosted by the Soccer World Cup, with A$25.2 million in revenues, of which A$10.3 million was in FY15.
 
Totalisator betting was again adversely impacted overall by the growth of Fixed Odds betting on racing, particularly for Win and Place bets, and a reduction in low-margin premium customer volumes. Totalisator trends, however, did improve relative to FY 2014, with Q1-2015 revenues down 3.2 percent in NSW and 2.9 percent in Victoria, compared to declines of 6.2 percent and 6.4 percent respectively in FY14.
 
Online and mobile operations at Luxbet continued to impress, with revenues up 28.8 percent, supported by strong turnover growth and continued yield improvement.

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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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