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TABCorp Financial Results - Betting, Tips & Ratings - Racehorse TALK

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Online PoisonPen7

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O.P. « 2018-Aug-09, 12:11 AM »
New-look Tabcorp back in profit

Tabcorp has swung to a net profit of $28.7 million in 2017/18 following its merger with Tatts Group, with digital sales and the FIFA World Cup helping to lift the gaming giant's reach and revenue.

Tabcorp on Wednesday said full-year revenue for the 2017/18 financial jumped 71 per cent to $3.83 billion from $2.22 billion a year earlier.

But the latest results - up from a $20.8 million loss a year earlier - were cut back by significant items of $217.5 million, including additional merger costs and costs related to the loss-making Sun Bets and Luxbet operations.

Tabcorp announced it was exiting Sun Bets, a joint venture with News UK, in July, while it closed online operation Luxbet in December.

On a pro forma basis - adjusting to account for the impact of the Tatts acquisition and excluding Sun Bets - revenue was up 2.5 per cent to $5.11 billion and earnings 2.8 per cent at $989.2 million.

Revenue from Tabcorp's wagering and media businesses was steady at $2.462 billion.

But while TAB's revenue growth was up 2.5 per cent, revenue at UBET - the wagering business owned by Tatts Group - declined by 0.7 per cent.

Tabcorp chief executive David Attenborough said the company planned on phasing out the UBET brand and replacing it with the TAB brand in late 2018.

TAB's online revenue rose 16.3 per cent, with a digital turnover of $5 billion, compared to a 3.3 per cent fall in revenue at retail venues.

Digital sales also rose strongly in Tabcorp's lotteries business, growing by 27.8 per cent and accounting for almost 18 per cent of total lottery sales.

Mr Attenborough said despite customers shift towards online gambling, bricks and mortar stores weren't going anywhere.

"It's really at the heart of the of a lot of Australian communities - their local pub and club," he told reporters.

"We do not see a development where you end up with digital without retail, all our long-term strategies are about the integration within the retail environment."

The FIFA World Cup helped boost TAB and UBET active customers by 8 per cent to almost 720,000, Mr Attenborough added.

Mr Attenborough also welcomed regulatory changes made by the state and federal governments, including the banning of synthetic lotteries and advertising restrictions during broadcast sports matches.

"Tabcorp is very well placed to perform in this improved environment," he said.

Tabcorp shares were up 35 cents, or 7.78 per cent, at $4.85 at 1254 AEST.

TABCORP'S WINNING FULL-YEAR FIGURES

* Net profit $28.7m, up from $20.8 million loss in FY2017

* Revenue up 71.4 pct to $3.829 billion

* Full year dividend of 21 cents, including final dividend of 10 cents, fully franked


https://www.theaustralian.com.au/news/latest-news/newlook-tabcorp-back-in-profit/news-story/fa0ab8ff2087eb0b425013c8c39ae42f

Online PoisonPen7

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« 2018-Aug-09, 12:15 AM Reply #1 »
Gambling is a low margin business when viewed as revenue v profit.

$28.7 million profit on $3.83 billion turnover.  :o

In other news:

Tabcorp bids farewells to Elmer Funke Kupper as AFP probe drags on

Former ASX chief executive Elmer Funke Kupper will leave the board of Tabcorp in October, as an Australian Federal Police investigation continues into the $10 billion gambling giant’s past dealings in Cambodia.

Tabcorp chair Paula Dwyer announced Funke Kupper’s departure — flagged last week in Margin Call — in her address to shareholders in the company’s annual report, which was released today.

“On behalf of all at Tabcorp I extend our good wishes to Elmer and thank him for his significant contribution to the company,” Dwyer said.

Kupper has been on a leave of absence from the board since March 2016 after Fairfax Media reported the AFP was investigating payments made by Tabcorp in 2009 that were allegedly related to a business opportunity in Hun Sen’s Cambodia. Kupper was the CEO of Tabcorp from 2007 to 2011.


https://www.theaustralian.com.au/business/margin-call/tabcorp-bids-farewells-to-elmer-funke-kupper-as-afp-investigation-drags-on/news-story/33b570ac3f4b936492cad7b57a07c158

Offline Antitab#

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« 2018-Aug-09, 08:18 AM Reply #2 »
Gambling is a low margin business when viewed as revenue v profit.

$28.7 million profit on $3.83 billion turnover.  :o

 

I hate to nit pick PP but the article above indicates that it isnt 3.83 billion turnover but in fact $28.7 million on 3.83 billion revenue

Online PoisonPen7

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« 2018-Aug-19, 06:58 PM Reply #3 »
I hate to nit pick PP but the article above indicates that it isnt 3.83 billion turnover but in fact $28.7 million on 3.83 billion revenue

Point taken.

For a while now whenever I had checked the Tote Win Pool holds for corresponding meetings a year in between you could see a significant drop in holdings which I had always put down to the Corporate Bookies gaining a piece of the pie at TABCorp's expense.

Until today:

Taree Cup 2017 NSW TAB Win Pool totals: $399,101
Taree Cup 2018 NSW TAB Win Pool totals: $493,178

(each race rounded down to nearest dollar)

That is a whopping 23.5% increase. Why?

2017 had 93 runners. 2018 had 94 runners.

2017 track Good 3
2018 Track Good 3

On Sunday 20th August 2017 (Taree Cup day) there were 7 Australian domestic meetings covered at Taree, Moruya, Ballarat, Pakenham, Sunshine Coast, Devonport and Kalgoolrie.

Today there were meetings at exactly the same 7 sites.

Wonder if the demise of William Hill has anything to do with it? Or maybe the POCT? Or is it just a statistical outlier. Will have to check another meeting.


Offline westie

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« 2018-Aug-21, 08:25 PM Reply #4 »
PP7
Funny you mention William Hill, I got a call last night from Bet Easy saying as a former client of the former I was now a member of the latter. I pointed out that I had never bet with WH.

Turns out WH must have taken over Sportingbet of which I was a client years ago.  get this the guy said I was entitled to a $20 bonus bet, so I miss out on the bonus bet if I had intended to sign up, go figure.

Sorry just realised this is off topic  :shutup:
« Last Edit: 2018-Aug-21, 08:27 PM by westie »

Online PoisonPen7

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« 2018-Aug-21, 08:45 PM Reply #5 »
PP7
Funny you mention William Hill, I got a call last night from Bet Easy saying as a former client of the former I was now a member of the latter. I pointed out that I had never bet with WH.

Turns out WH must have taken over Sportingbet of which I was a client years ago.  get this the guy said I was entitled to a $20 bonus bet, so I miss out on the bonus bet if I had intended to sign up, go figure.

Sorry just realised this is off topic  :shutup:

Were you with tomwaterhouse.com at any stage westie? I think that was their main purchase.

Offline westie

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« 2018-Aug-21, 09:06 PM Reply #6 »
 :no:

Offline wily ole dog

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« 2018-Aug-22, 06:48 AM Reply #7 »
Went I got the news I was hoping that bet easy would improve Crown.
Nothing so far to make me happy. They are hopeless


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