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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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MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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