Tabcorp’s Strong Lottery Performance Offsets Challenging Wagering Environment
Narrow-moat Tabcorp reported an interim 2019 underlying NPAT of AUD 211 million, more than double the previous corresponding period. This rapid growth mainly reflected a full six-month contribution from recently acquired Tatts. Had the Tatts acquisition been in place for the full comparable period, revenue and EBITDA would’ve increased by 6% and 9%, respectively, a more modest, but positive result, nonetheless. Lotteries was the standout performer during the period, reflecting strong digital gro...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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