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

Author Topic: Tabcorp, Tatts Group Creative Reporting  (Read 90558 times)

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Online jfc

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« 2015-Mar-03, 06:05 PM Reply #50 »
According to William Hill it's #3 in Australia behind Tabcorp and Paddy Power.

Paddy is releasing its figures as I write:

"
Online Australia: online customer acquisition up 33%, active customers up 38% and amounts staked up 22%. Operating profit up 68% to ?52.4m;
"

Hopefully a fuller story will have arrived by the time I wake up tomorrow.



http://www.twst.com/update/99770-paddy-power-plc-preliminary-results-announcement-for-the-year-to-31-december-2014



Online jfc

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« 2015-Mar-04, 04:57 AM Reply #51 »
Some useful information in the presentation from Paddy Power (aka Sportsbet).

Australia:

+14% Turnover
+34% Revenue

Revenue growth vastly superior to Turnover, courtesy of Rake increasing from 9.4% to 11.0%.

Page 25 contains interesting trends.

Particularly:

+2% Racing
+12% Sports

V'landys and his ilk try to gouge Punters more and more.

So Punters vote with their feet.


http://www.paddypowerplc.com/system/files/uploads/financialdocs/paddy-power-plc-2014-prelims-presentation_0.pdf

Online jfc

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« 2015-Mar-04, 05:51 AM Reply #52 »
Ladbrokes has not been here long enough for meaningful YOY comparisons.

It's vastly improved its Rake to 9.0%.

And now has an Operating Profit.

http://www.ladbrokesplc.com/~/media/Files/L/Ladbrokes-V2/results-presentations/2015/2015-02-26-presentation.pdf

Online jfc

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« 2015-Mar-16, 07:51 AM Reply #53 »
According to my memory of today's (subsciption) AFR:

Big 3 Australian Corporates doubled Operating Profit from $65m to $130m.

But latter Half Racing flat thanks to usurious Fee Hikes!

Wouldn't surprise me if Sports Betting will attract more promotions.

Online jfc

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« 2015-May-04, 08:25 PM Reply #54 »
Tabcorp Q3 KPIs are out.

Racing Revenue actually UP 6.3%!

Thanks to 31.9% lift in Fixed Odds.

Totes of course were down - 0.8%.

 

Online jfc

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« 2015-May-05, 05:11 PM Reply #55 »
William Hill recently issued its Q1.

The commentary below claims a stark impact of increased fees.

Turnover Down 20%!

Rake Up 18%!

Not good news for Punters.

Nor for Fee chargers.



The following William Hill Australia narrative is provided on a local currency basis. Wagering reduced 20%, primarily affected by the reshaping of the client base following the increases in race field fees in July 2014. Net revenue fell 8% as the improvement in the gross win margin from 8.7% to 10.2% did not fully offset the wagering decline and free bets increased as planned following the launch of the William Hill brand. Cost of sales was 6% higher, including higher race field fees.

http://www.williamhillplc.com/media/newsroom/corporate-news/2015/q1-2015-trading-update/

Offline PoisonPen7

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« 2015-May-06, 04:58 AM Reply #56 »
Wagering reduced 20%, primarily affected by the reshaping of the client base following the increases in race field fees in July 2014.

Maybe they are losing business because of increased competition in the corporate space? Maybe blaming a loss of business solely on Racefields is "Creative Reporting"  :dry:

At the moment WH are running a promotion on a race every day where if your bet doesn't win you get a bonus bet for the full amount.



I suppose they are going to come out next year and blame "Racefields" for any reduction in profit when in fact they are spending more on promotions to try and win business from their rivals.

There seems to be a lot of players with some aggressive new businesses offering big sign up bonuses e.g. Unibet, ClubAllSports.

I'd hate to be a corporate bookie at the moment trying to make a buck. Seems inevitable that there will be some consolidation in the corporate space. In the meantime punters have never had it better.

Paddy mustn't be doing too badly if they can pay RVL $3 million to broadcast content that is available for free on racing.com. How on earth are they going to recover that outlay? Is there something dodgy going on?  (maybe deserves it's own thread, or belongs in the Victorian Integrity thread).

I look forward to Paddy Power reporting that Sportsbet has seen a drop in profit due to Racefields   :lol:

Online jfc

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« 2015-May-06, 09:53 AM Reply #57 »
Sportsbet had a recent interesting and confusing AFR article, although no new financial figures were released.

The bit below caught my eye, as I'm intrigued how William Hill is managing to bypass in-play betting restrictions.

But these current restrictions are deranged and the sooner they are scrapped, the better for punters.

As Corporates grow share they will have more clout to get this overturned.

Making Betfair in particular ecstatic, and the Totes even sicker.



He also said that Sportsbet had enjoyed early success with its cash-out feature for customers who want to take their money early from an extended multi-bet wager and that William Hill's new "click to call" online service meant the federal government should again consider allowing in-play betting.

The William Hill service allows punters to call that company's call centre via a computer microphone and thus bypass in-play betting restrictions. "I think it is recognised that the level of change in technology merits a review of the legislation in this space and companies will continue to innovate and challenge the existing legislation in the absence of that," Barry said.

http://www.afr.com/business/sport/sportsbet-aims-to-take-advantage-of-branding-turbulence-20150503-1mwncp?stb=twt

Offline Bubbasmith

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« 2015-May-06, 06:47 PM Reply #58 »
Would not Tabcorp with its "cashout" feature mean they were also betting in play, and thus, by-passing the same betting in-play restrictions ?

Offline philby42

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« 2015-May-07, 12:10 PM Reply #59 »
Thanks Bubba, the "Cash Out" feature has been designed to be fully compliant with the IGA (Interactive Gaming Act). Cheers, Philby

Offline whispering

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« 2015-May-07, 04:53 PM Reply #60 »
Is there any reason why we cannot bet in play other than at an outlet or over the phone?

Why can I stand in a pub and bet there or press a few buttons on my phone, and place a bet with just my account number? (for one corporate anyway)


Offline PoisonPen7

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« 2015-May-07, 06:52 PM Reply #61 »
Is there any reason why we cannot bet in play other than at an outlet or over the phone?

Why can I stand in a pub and bet there or press a few buttons on my phone, and place a bet with just my account number? (for one corporate anyway)


It would be too "dodgy" over the internet I reckon.

Geez I'd be in one room having my bets and my wife would be in the other "cashing out" if she worked out how to do it   :lol:

Offline philby42

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« 2015-May-08, 10:48 AM Reply #62 »
Is there any reason why we cannot bet in play other than at an outlet or over the phone?

Why can I stand in a pub and bet there or press a few buttons on my phone, and place a bet with just my account number? (for one corporate anyway)


Whispering. the Interactive Gaming Act 2001 (http://www.comlaw.gov.au/Details/C2015C00101/Html/Text#_Toc415231147) outlines the restrictions - it is a Federal piece of legislation.  As I am not a lawyer I will let you read it and interpret it for yourself. Cheers, Philby

Online jfc

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« 2015-May-16, 12:21 PM Reply #63 »
At first glance this seems to be a very informative release of figures from RVL.

I won't hold my breath waiting for V'landys to produce anything nearly as factual.

+11.4% Corporate Turnover
+3.3% TAB Fixed + Tote

TAB Tote probably declined versus TAB Fixed. So Totes' days seem numbered.

It also covers other areas that so many of you address with uninformed rants.

http://www.racing.com/news/2015-05-14/wagering-strong-amid-media-negotiations

Online jfc

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« 2015-Aug-05, 05:34 AM Reply #64 »
Bet365 is stopping me accessing their official figures, so have to make do with Stensholt.

The Revenue mentioned in the article is not Rake (as one would expect), but presumably Operating Profit.

+39.9% Turnover
+102.1% Operating Profit

Growing Turnover 40% shines the blowtorch of reality at the bleatings of Fletcher's spokesmodel Irvine.

Growing Profit vastly more, shows the corporate wisdom of culling a minuscule number of troublesome accounts.

http://www.afr.com/business/gambling/bet365-losses-in-australia-top-100-million-mark-20150803-giq6sl?stb=twt

Online jfc

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« 2015-Aug-12, 05:41 AM Reply #65 »
H1 for Ladbrokes follows the trend.

Betstar acquisition complicates matters.

+82% Actives to 68,000. Wonder how much all those care about the Irvine propaganda?

+64% Turnover 652
+94% Rake 62.8
 9.6% Rake from 8.1%

+98% Net Revenue

5.2 = 1st time Operating Profit

Again, by controlling a minute number of extremely vocal pests (who enjoy incredible favourable media support), Ladbrokes can turn a profit.

With no visible negative impact on growth.

We wait with bated breath to see whether there will be any visible negative impact on V'landys and his corporate partners.

http://www.ladbrokesplc.com/investors/results-and-presentations/2015.aspx

Offline PoisonPen7

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« 2015-Aug-12, 06:57 AM Reply #66 »
TAB Tote probably declined versus TAB Fixed. So Totes' days seem numbered.

I actually agree with this  - up to a point.

If the Totes stopped (or even one of them), that means there would be no "Top Tote Plus" product suite (or a diminished suite in the case of one tote dropping out) for the corporates. I know I would bet a lot less less if I was forced to bet fixed - notwithstanding the fact that I get better odds on Top Tote, the nature of my punting is that I like to have my bets early to free up the rest of the day.

Am wondering if I'm typical of a lot of punters i.e. if the tote goes, then the corporate's figures will drop also.

There seems like there is almost an inevitability about this. I still cannot see how corporates are allowed to offer "top tote" to the detriment of the totes themselves. Apart from the obvious paradox, isn't it illegal what they are doing in terms of the Competition And Consumer Act  :what:

And acknowledged that I am a hypocrite  :p

Online jfc

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« 2015-Aug-12, 07:35 AM Reply #67 »
Biggest thing deserving to be made illegal is the Isle of Manipulation.

Hopefully imminent reports will show us whether Totes will continue plunging into annihilation.

No prizes whom I shortlisting as replacement postillions for the aptly named Slim Pickens in this remake.

And if you want more topical irony the character's nickname was was "King Kong"!


Online jfc

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« 2015-Aug-13, 08:47 AM Reply #68 »
Tabcorp results just out.

Knock yourself out!

At first glance Totes still sick.

- 12% increase in customers (wonder how many were for the World Cup?)
- ACTTAB acquired
- Surreptitious Rake hikes - through imaginary mingling
- Increased International Racing

Yet after all this Totes still dropped.

Good old Other Turnover dropped a significant 4.3%.
Presumably Premium Punters are falling off the perch. No way they'll get back in the saddle.

Luxbet had a bad H2. Reckon it's losing out to the other Corporates.

But cartoon racing continuing to surge!

« Last Edit: 2015-Aug-13, 10:16 AM by jfc »

Online jfc

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« 2015-Aug-13, 10:43 AM Reply #69 »
After reading Packer's reporting of Crownbet (including Betfair) I'm ashamed to be Australian.

$90 million Revenue
$16 million Loss

That's all he wrote.



Offline PoisonPen7

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« 2015-Aug-13, 11:38 AM Reply #70 »
After reading Packer's reporting of Crownbet (including Betfair) I'm ashamed to be Australian.

$90 million Revenue
$16 million Loss

That's all he wrote.


He can and will wear a loss for a few years as long as his competitors are doing the same - a common tactic used in small oligopoly industries such as IT and the airlines.

He has a great advantage over his competitors with a friendly RVL board accepting cash from Crownbet for broadcast while Betfair trumpets to the world that it is reducing the takeout on Melbourne Racing because RVL is charging them less without reference to the Crownbet payments.

Online jfc

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« 2015-Aug-14, 10:48 AM Reply #71 »
Clearly a lot of you would benefit from checking these reports, rather than spamming uneducated opinions.

If you need a hand getting started then this attempt below may help.

This expert did fail to notice the significant developments in Other.

May bet is that's what Tabcorp was hoping.

http://www.theroar.com.au/2015/08/14/three-wide-no-cover-tabcorps-annual-report-means-racing/

Offline Hareeba

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« 2015-Aug-14, 12:02 PM Reply #72 »
Clearly a lot of you would benefit from checking these reports, rather than spamming uneducated opinions.

If you need a hand getting started then this attempt below may help.

This expert did fail to notice the significant developments in Other.

May bet is that's what Tabcorp was hoping.

http://www.theroar.com.au/2015/08/14/three-wide-no-cover-tabcorps-annual-report-means-racing/

You carry on like you are some great expert, yet it's all negative tripe. Your life must be sad to be so negative all the time.

Offline PoisonPen7

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« 2015-Aug-14, 12:56 PM Reply #73 »

http://www.theroar.com.au/2015/08/14/three-wide-no-cover-tabcorps-annual-report-means-racing/

Actually that is one of the better journalistic efforts I've seen in recent times. Reported dispassionately and no parochial Victorian guff in it   emthup

Online jfc

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« 2015-Aug-20, 09:39 AM Reply #74 »
Tatts Group figures just out.

So bad that the ASX had great trouble releasing them.

Wagering:

-1.5% Revenue 116.8
-4.5% EBITDA 153.5
-5.7% EBIT 135.9

Pretty sick for a World Cup year.

+20.7% Fixed => Totes ugly

Claim Exotics up. Mmmm.

Sport up, but Fixed Price Racing not up.



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