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

Author Topic: Tabcorp, Tatts Group Creative Reporting  (Read 90556 times)

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Offline Bubbasmith

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« 2020-Aug-29, 11:28 AM Reply #325 »
...

But Flutter also said it had benefited from the closure of retail betting — Sportsbet is a corporate bookmaker that mostly takes bets online or via its apps — that hit the recently announced results of Sportsbet’s ASX-listed rival Tabcorp during the pandemic.

“The addition of some traditional retail customers who tend to bet on higher margin racing products (helped),” Flutter said in its results announcement. It also claimed about 31 per cent of betting in 2019 was being made in retail outlets, pubs and clubs and on track, compared with 44 per cent in 2016.


https://www.theaustralian.com.au/business/companies/digital-betting-shift-delivers-huge-sportsbet-profit/news-story/474d70966b73fc275181c427fa1dc2b0



Why is it always left to me to pick up on the overstated bullshit every single time  :nowink:

Been doing it ever since the Coprorates falsely announced they had won the High Court challenge against Peter V'Landys over Racefields.

Surely the TABCorp reps should be coming on here dealing with all this crap themselves?

Looks to me Tabcorp has been asleep at the wheel as shareholders in corporates like Sportsbet and Pointsbet continue to leave Tabcorp shareholders in their wake.

Offline PoisonPen7

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« 2020-Aug-29, 12:39 PM Reply #326 »
Looking at the share price over the past 5 years I would rather have PP or Flutter.

I don't have any of these stocks. The marketing departments of TAB and Sportsbet are enough to turn me off buying their shares. Amazing how marketing departments (not just TAB and Sportsbet) are given a bottomless pit of cash to produce rubbish ads and not be held accountable for sales.


Share price of Flutter past 5 years on the LSX



Share price of Paddy Power last 5 years LSX



Share price of TABCorp past 5 years ASX



Online jfc

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« 2020-Dec-31, 05:56 AM Reply #327 »
From Flutter's November Q3:

Australia

Sportsbet delivered an excellent performance in Q3 with pro forma revenue growth of 76% thanks to growth in average daily customers of 86%. This revenue growth was despite a 30 basis point reduction in net revenue margin year on year (to 10.7%) as the business faced tougher margin comparatives. The structural shift of customers from retail to online continued as local lockdowns (in Victoria) and general social distancing restrictions remained in place.

This division’s standout performance was achieved while migrating BetEasy customers over to the Sportsbet platform in September, ahead of the key Spring Carnival period. To date, customers accounting for over 90% of BetEasy’s revenue in the twelve months prior to migration have subsequently engaged with Sportsbet. These customers continue to enjoy key product features such as tokenised generosity and can now also access the expanded product offering of Sportsbet, the “home of the same-game multi”.



Unclear what impact Beteasy's inclusion contributed to the spectacular growth but presumably it was significantly smaller than Sportsbet, so those results look very healthy.

Note their 10.7% Rake.

Tabcorp Rake is ~16% so it's not hard to see why defections continue.

https://www.flutter.com/sites/paddy-power-betfair/files/result-center/2020/2020-q3-trading-update.pdf

Offline JWesleyHarding

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« 2021-Jan-11, 02:54 PM Reply #328 »
Is the TAB down?

Offline fours

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« 2021-Jan-11, 03:18 PM Reply #329 »
Hmmmm,

Yes and no....

Seems we have to put up with work experience types over the summer break....

Fours

Online jfc

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« 2021-Feb-24, 01:52 PM Reply #330 »
In last week's HY report Tabcorp boasts of growing Wagering digital Turnover by 45.4%.

But concedes its competitors (who have ZERO retail Turnover) had stronger digital growth!

+5.1% = Turnover
 -2.4% = Revenue

That's because Yields (Rakes) have dropped by ~10%.

Because of the transition to digital and Corporate competition.

All Corporates need to do keep Rakes low until Tabcorp collapses.

Whereupon they can then Rake as much hay as they choose.

Offline Peter Mair

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« 2021-Feb-24, 08:15 PM Reply #331 »


............. don't be smart ............. it is unfair to stupids

Online jfc

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« 2021-Mar-09, 06:20 PM Reply #332 »
Sportsbet continues to produce impressive-looking numbers.

One interesting indicator is that Rake grew better than Turnover.

My bet is this might be because V'landys and his ilk have shafted punters more and more with Exotics.

Then Sportbet countered with Top Tote Exotics.

And the success of this lower Rake than Tabcorp product has led to a higher Rake for Sportsbet!

But, hang on.

Weren't we told punters don't know the difference!

https://www.casinoaus.com/news/australia-full-year-flutter-growth/

Offline Antitab#

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« 2021-Mar-10, 10:55 AM Reply #333 »
I suspect you will find the improved results are as simple of adding margin to markets and most of the increase will have come from Sport not racing.

Same game multis have been a game changer for all bookmakers.


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