Tabcorp records third quarter revenue jump

Australian gambling company Tabcorp has cited growth in its wagering and media and international businesses as the main reason behind an increase in revenue during the third quarter of 2014.

The firm posted group revenue of AUS$492.3 million (€329.8 million/$457.9 million) in the quarter, an increase of 2.5% on the corresponding period last year.

Wagering remains the firm’s biggest business having generated AUS$377.2 million in the quarter, 2.7% more than in the third quarter of 2013.

Tabcorp’s media and international business experienced the most growth during the quarter with revenue increasing to AUS$54.3 million, a year-on-year rise of 4.2%.

Gaming services also experienced a 0.4% rise in revenue to post AUS$24.2 million, but Tabcorp saw revenue from its keno business drop 1.4% to AUS$50.9 million.

The third quarter results mean Tabcorp’s year-to-date revenue now stands at AUS$1.5 billion, up 1.5% from where it was at the same point in 2013.

Gaming services has experienced the most growth this year with revenue up to AUS155.3 million, an increase of 19.7% on the previous year.

Revenue from wagering stands at AUS1.2 billion, 0.3% more than last year, while wagering and international has grown 6.9% to AUS$164.2 million.

Keno is the only part of Tabcorp’s operation to be behind where it was at the same point last year having suffered a 1.8% revenue fall to AUS$155.3 million.

David Attenborough, managing director and chief executive officer of Tabcorp, said: “Tabcorp’s third quarter revenue performance delivered a stronger rate of growth than the first half, supported by good growth from our Wagering and Media & International businesses.”

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