TAB NZ posts turnover of US$123.2m for July

Tab NZ has reported that its July turnover was 5.7 per cent below budget at AU$203.5m (US$123.2m).

New Zealand.- TAB NZ has shared its financial results for July, reporting gross betting revenue (GBR) of NZ$32.6m. That’s 4.8 per cent below budget (NZ$1.6m). Turnover was 5.7 per cent under budget at NZ$203.5m (US$123.2m).

Profit for the month was NZ$8.7m, NZ$5.2m below budget. In June, TAB NZ reported a profit of NZ$11m, NZ$1.7m below budget. From 1 August 2021 to 31 July 2022, the company had a profit of NZ$154.8m which was NZ$8.5m below budget and NZ$23.5m below last year.

Operating expenses for the full year from 1 August 2021 to 31 July 2022 were NZ$119m, which was NZ$1.7m below budget and NZ$5.4m above last year.

The three highest-grossing sporting events in July were the three All Blacks Tests against Ireland with a combined NZ$5m. Basketball was the leading in-play sporting code, accounting for 20 per cent of in-play turnover, while rugby league is the largest pre-match single sport code, accounting for 34 per cent of pre-match turnover.

The company said: “The TAB NZ Board has been able to maintain betting profit distributions at budgeted levels throughout the entire financial year. With funding from Betting Information Use Charges and the Betting Levy tracking above budget, this has meant that total distributions have been above budgeted expectations. 

“The Board will continue to factor in potential developments in New Zealand’s response to Covid-19, the ongoing impact of masks in retail venues, the current domestic and global financial climate, and the potential impact of any further ongoing trend of a drop in starter numbers as it assesses future distributions.”