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Tabcorp, Tatts Group Creative Reporting - Racing Talk - Racehorse TALK

Author Topic: Tabcorp, Tatts Group Creative Reporting  (Read 58433 times)

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Online jfc

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« 2018-Feb-12, 12:36 PM Reply #300 »
The Tabcorp Report also includes Tatts.

Showing that Tatts Wagering and Racing performed much worse than Tabcorp.

-17.9% EBIT is a big tell.

Tatts Tote looks like being on its last legs.

Offline bascoe

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« 2018-Feb-12, 01:30 PM Reply #301 »
Seems to me TAB does not care as much about the Tote as it does Fixed.

Total take out in the Win pool now about 18% after rounding etc,
Q and E moved to 20% with the merging of the WA pools....

Seems short sighted to me... looks like a spiral to the bottom
1) punters abandon the tote for fixed
2) tote gets smaller
3) Fixed gets restricted
4) Tote Pools too small to bet into (see Tatts aka the kiddie tote)

JFC I wonder who the premium punters are now?  Most premium punters I know are ex premium - like myself.  A well connected big punter told me "I really don't think there are any premium punters getting rebates for their tote turnover like the old days"

With commission rooms at racetracks are nonexistent now any premiums are doing it remotely - but I do not think there are that many left.

I know of several who have moved to fixed - and do well, but it is labour intensive.

Z of course has $ in the game but he bets through Isle of Man.

So I wonder where the rebates are going off your figures?

bascoe


Online jfc

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« 2019-Feb-14, 06:14 AM Reply #303 »
At first glance the latest Tabcorp wagering figures are really bad.

Previously Tote Revenue would drop but Fixed would rise.

But now both have fallen!

Fixed Rake has dropped dramatically presumably thanks to competition from Corporates.


Online fours

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« 2019-Feb-14, 09:13 AM Reply #304 »
jfc,

Jackpot players still there but a while back some players did leave ... or maybe the players that left are the same ones that onl do the jackpots now.

Off to WATAB maybe for parimutual? Maybe those figures are included and maybe not if so.

Fours

Offline Beachy

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« 2019-Feb-14, 12:28 PM Reply #305 »
At first glance the latest Tabcorp wagering figures are really bad.

Previously Tote Revenue would drop but Fixed would rise.

But now both have fallen!

Fixed Rake has dropped dramatically presumably thanks to competition from Corporates.

Total hold on fixed price products has fallen through the floor at the Ubet arm of the business since they've adopted the Tabcorp strategy of betting much higher percentages throughout betting. If not holding the money I guess it's hard to win it .....  :shrug:

Offline PoisonPen7

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« 2019-Feb-14, 12:44 PM Reply #306 »
Tabcorp (TAH) profits surge on merger with rival Tatts Group

Results

Tabcorp (TAH) more than doubled revenue to $2.7bn and posted a seven-fold increase in net profit to $182.5m over the six months to 31 December 2018. Despite the strong lift in earnings, the gaming groupís bottom line fell short of market expectations. The $18.3m in significant items was associated with costs linked to the Tatts combination.

Drivers

    The very substantial lift in profits and revenues was mainly thanks to its merger with rival Tatts which it acquired in 2017. This was the first half its results have reflected the combined performance of the merged group. The focus continues to be on creating cost synergies across the integrated organisation. It is set to deliver $55m in synergies over FY19 (previously targeted $50m).

    Earnings were boosted by its Lotteries division and held back by a softer result in the Wagering business. Its plan to increase the frequency of Powerball jackpots (including the $100m in August 2018) helped lift the number of active registered players up 13% to 2.98m and ultimately pushed Lotteries revenues up almost 20%.

    Revenues across its Wagering & Media unit fell by 3.8% to $1.2bn, partly on a lift in promotional activity to grow its customer base. While TAB turnover edged higher, UBET (Tattsí bookmaking business) revenues declined by 7.3% ahead of its migration to the TAB brand.

Dividend

    TAH will pay eligible investors an $0.11 per share interim dividend on 13 March. It will trade ex-dividend on Monday 18 February. Assuming a similar final dividend, TAH has a dividend yield around 4.5%.

Outlook

    No guidance was provided for the full year. However TAH says it will continue to focus on delivering benefits from the Tatts integration.

Share price

    TAH slumped due to the result falling short of market hopes, driving its shares to one-month lows. Its shares have improved by 7% Year-to-Date.


https://www.commsec.com.au/market-news/reporting-season/feb-19/tabcorp-tah-half-year-results-2019.html

I wonder about the long term viability of gambling stocks given the new wave of puritanism that seems to be sweeping Western Society and the politicians do not need much of an excuse to tax "gambling vermin". Anyone who is a gambler is only one rung above a smoker in the degenerate stakes   :lol:

Online Bubbasmith

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« 2019-Feb-14, 03:49 PM Reply #307 »
Share price down again today by 1.09 %
To think they are banking on lotteries and Powerball jackpots to generate turnover and  lift profits is not a good sign for the racing industry, as the industry is reliant on wagering turnover.

Offline Peter Mair

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« 2019-Feb-14, 06:50 PM Reply #308 »

Will Tabcorp start to respect its customers?

If the banks are in the gun for practices that rip-off their customers, one can only wait for the racing industry to be given the shock-and-orr treatment that would expose the way 'profits before people' is rampant in the racing gambling business.

Of all the breaches of trust in the racing game, none is more offensive than TABs putting modest punters last in the line for a fair go -- and first in the line for being ripped.

Online jfc

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« 2019-Feb-15, 04:57 AM Reply #309 »
A look at Sportbet's (aka Paddy Power Australia) November quarterly provides insights into our betting landscape.

+25% Turnover
-2.3% Rake (10.8% -> 8.5%)
-2% Revenue

Certainly better than Tabcorp.

Apparently an aggressive contest for market share.

Giving Tabcorp problems.


https://www.paddypowerbetfair.com/~/media/Files/P/Paddy-Power-Betfair/documents/q3-trading-update.pdf

Offline stiffarm

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« 2019-Mar-12, 08:33 PM Reply #310 »
POC tax will cause rakes to rise across the board from next year and beyond...


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