We are placing a wager on Tabcorp's ability to transition to the brave new digital world of betting.
Narrow-moat-rated Tabcorp’s interim fiscal 2018 underlying net profit after tax fell 20% to AUD 82 million, including an 18-day contribution from Tatts. The soft performance was driven by higher costs in the core wagering division, along with an AUD 24 million EBIT loss in struggling U.K. startup Sun Bets. Despite the weaker result, we have taken a more positive view on the long-term outlook for the wagering and lotteries divisions and increased our long-term margin forecasts for both divisions....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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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