Tabcorp Kicks off Fiscal 2018 with Strong Digital Turnover, and Boost from Intecq Acquisition
Our AUD 4.20 per share fair value estimate for Tabcorp is unchanged following a strong start to fiscal 2018. The company reported group revenue of AUD 579 million, representing a 6% increase on the previous corresponding period and is tracking in line with our expectations. Wagering and media did most of the heavy lifting, increasing revenue by 5% to AUD 482 million, and after stripping out Luxbet revenue, increased by 6%. We forecast the mid-single-digit pace to continue, with a modest uplift u...Tabcorp Holdings is an Australian gambling entertainment company. Co. has three segments: Wagering and Media operations, which includes its network of TAB agencies, hotels and clubs, and on-course totalisators in Victoria, New South Wales and the Australian Capital Territory (ACT) as well as its Three Sky Racing television channels broadcasting thoroughbred, harness and greyhound racing and other sports; Gaming Services business, which consist of Tabcorp Gaming Solutions that provides a mix of gaming capabilities, services, advice and financing to licensed gaming venues; and Keno business, a random number game that is distributed to clubs, hotels and TABs and is available online in the ACT.
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