Tabcorp boosted by wagering in third-quarter

Australian gambling company Tabcorp Holdings has cited an increased level of wagering as one of the main reasons behind year-on-year growth during the third quarter of 2015.

Group revenue in the opening period of the year amounted to Aus$508.7 million (€360.7 million/$405.8 million), up 3.3% on the corresponding quarter last year.

Tabcorp’s wagering and media was its most successful division in the quarter, with revenue up 5.6% on a year-on-year basis to Aus$440.6 million.

Although gaming services remained flat at Aus$24.2 million, Tabcorp did note that its keno business saw revenue drop 13.8% year-on-year to Aus$43.9 million.

As a result of its performance in the third quarter, Tabcorp has revealed that group revenue for the year-to-date now stands at Aus$1.6 billion, up 5.6% on the amount posted at the same point last year.

Wagering and media revenue for the year-to-date stand at Aus$1.4 billion, up 7.1% on the previous year, while revenue gaming services is up 1.1% to Aus$74.9 million.

However, the company’s Keno division has suffered year-on-year losses, with revenue from this part of the business down 4.9% to Aus$74.9 million.

David Attenborough, managing director and chief executive officer of Tabcorp, said: “Tabcorp achieved revenue growth in the third quarter, driven by the performance of our wagering and media business.

“It was pleasing to see the momentum in wagering continue on the back of a strong first half, which included a successful FIFA World Cup.”

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