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Tatts Earning Reports

STRONG DIGITAL GROWTH FOR TATTS
 
Australian betting group to focus more on digital following 7.2 percent fall in annual profit in fiscal 2015-2016.
 
Following a strong performance by its digital operations in fiscal 2015-2016, Australian betting group Tatts is to focus on the faster enhancement of the channel to offset disappointing results in other divisions of the company.
 
On Thursday Tatts reported a 7.2 percent fall in annual profit for 2015/16 to A$233.8 million, adversely affected by long-running pokies compensation litigation and a loss on the sale of its UK slots business, Talarius.
 
Tatts had to repay A$540.5 million plus interest to the Victorian government after losing a compensation battle, and took a A$12.8 million loss on the Talarius sale.
 
CEO Robbie Cooke said in a statement that the underlying business remained strong, with net profit from continuing operations rising 3.8 percent to A$263.4 million on strong digital sales and a significant rise in revenue from lotteries.
 
"We are achieving online growth never accomplished in the business before. In both wagering and lotteries our digital traction is outstanding," Cooke claimed.
 
"Looking forward into the year, innovation remains top of our agenda as we pursue organic growth across all our distribution channels.
 
"We are now in a cycle of continuous and rapid enhancement of all our digital assets - a significant step forward for our business."
 
Cooke revealed that Tatts lotteries and wagering apps are now installed on 1.5 million devices, up from about 800,000 a year ago.
 
In fiscal 2016, Tatts lotteries operations posted record results, with revenue rising 8.2 percent to A$2.14 billion, boosted by 45 jackpots at A$15 million or more. The groups overall revenues grew 3.8 percent to A$3.03 billion.
 
Lotteries digital sales jumped 32.2 percent, and wagering digital sales rose 22.5 percent.
 
Tatts now generates more than 30 percent of its wagering sales and 13.5 percent of lotteries sales online.
 
Its UBET wagering business generated growth in turnover of 4.1 percent, up from a decline of 0.9 percent in fiscal 2015, but revenue and earnings were lower.
 
Cooke said that trading in the first month of the current financial year was trending positively.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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