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Full Year 2011 Report For Tatta

Friday August 24,2012 : TATTS POSTS FY 2011 RESULTS
 
Aussie gambling group reports a 16 percent rise in net profit
 
Losing out on pokie machine revenues in 2012-2013 should not unduly slow down Aussie gambling group Tatts, which has posted its annual results to June 30 2012, with a notable 16 percent rise in net profit to A$319.1 million.
 
The rise is attributed mainly to strong performances from a growing lottery business (up 15.8 percent to A$202.6 million) and from wagering (which reached A$136.3 million).
 
Revenues topped A$650.2 million
 
Tatts's pokies business, which has traditionally made a contribution to earnings of around 13 percent, will stop operating during the 2012/13 year. The company lost its pokies licence without compensation from the Victorian government in 2008 and is currently in litigation with the provincial government, claiming some A$490 million.
 
"Importantly, Tatts Pokies will exit the company with a small contribution and not drag on profits generated elsewhere as a result of redundancy costs," the company said, revealing that Tatts pokies was comparatively subdued with a 2.3 percent increase in revenue over the financial year.
 
Some analysts predict that the group's earnings in the 2013 fiscal year will reach A$590 million, delivering profits of A$210 million.
 
Management said it expects 2013 to be a strong year thanks to improved margins and the integration of Tasmania's Tote Tasmania into the business.



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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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