Tabcorp Online Results

Tuesday October 15,2013 : ONLINE GOOD FOR TABCORP
 
Bolsters softer retail results
 
Australian betting firm Tabcorp Holdings reported a rise in revenue for the three months ending September 30, 2013 which is mainly attributed to strong growth in online gambling and fixed-odds betting as the company reported a softer quarter in retail.
 
Key performance highlights include:
 
–       Quarterly revenue of AUD$503.9 million, up 3.1 per cent (Q1/2012: AUD$488.9 million)over the same period last year.
 
–       Expanded racing and sporting event portfolio contributed towards a 30 percent increase in fixed-odds revenue.
 
–       TAB Outlet wagering revenue amounted to AUD$385 million, up 5.4 percent.
 
–       Digital waqgering turnover amounted to AUD$656.1 million, up 14 percent.
 
–       Revenue from the company's online gambling operation Luxbet grew 37 percent
 
David Attenborough, chief executive of Tabcorp commented: ”The first-quarter revenue growth demonstrates the resilience of Tabcorp's business in tough external trading conditions.”