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Tabcorp Q3-2013 Results Released
Monday April 29, 2013 : TABCORP Q3-2013 RESULTS RELEASED
Tabcorp Holdings posts decent revenue gains from its Luxbet corporate bookmaking arm.
The Aussie and land sports betting group Tabcorp released its third-quarter trading update Monday, reporting solid contributions from its digital division Luxbet operations.
Digital turnover was up 13.4 percent in the March quarter on the previous corresponding period, in line with the wagering market’s shift to digital technology, driven by consumer preference for mobile transactions, customer convenience and fixed odds expansion.
The release showed Group revenues for the third quarter were up 2.6 percent to A$480.3 million year-on-year, while revenues for the three quarters year-to-date were up slightly less at 2.2 percent to A$1.5152 billion.
The newly established Gaming Services division continued to improve and the Fixed Odds and Luxbet businesses both delivered strong revenue growth.
During the quarter Tabcorp signed an extension with the Queensland government for its licence to operate Keno in the state until 2047. Given that Keno now contributes 16 percent of Group earnings before EBITDA, this was a good move for the Group.
Total wagering revenue rose 7.2 percent in the third quarter, but revenue from wagering operations, which generates the bulk of the company's earnings, was down 4.7 percent, at A$368.6 million.
Turnover declined in the company's retail operations in New South Wales and Victoria on softer trading conditions.
The update comes after the group posted a sharp fall in interim profit.
In the six months to December 31, Tabcorp recorded a net profit of A$72.9 million, a result 61.5 percent lower than the same period last year.
Tabcorp managing director David Attenborough said the group's trading performance was "steady", with third quarter revenue growth broadly in line with the first half.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
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