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.”