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TAB NZ reports 13% increase in revenue for December

TAB NZ has reported profits for December increased by US$1.7m year-on-year.
TAB NZ has reported profits for December increased by US$1.7m year-on-year.

TAB NZ’s revenue reached NZ$36.5m in December, $6.5m above its budget.

New Zealand.- Tab New Zealand (Tab NZ) has reported a 13 per cent increase in revenue for December 2020.

Gross betting revenue increased to NZ$36.5m (US$26.2m), $6.5m above budget.

Profits before distribution were up by NZ$1.7m (US$1.3m) year-on-year at NZ$16.2m (US$12.5m). That’s NZ$4.4m ($3.4m) above budget.

Profits had reached NZ$17.7m (US$12.6m) in November.

TAB NZ said that the year-to-date operating profit from August 1 to December 31 was NZ$77.4m ($59.7m). This was NZ$20.6m ($15.8m) above budget and NZ$13.1m above the same period in 2019.

New Zealand’s racing margins were 14 per cent and its overseas racing margin was 18.7 per cent.

Regarding the sports betting segment, TAB NZ said: “The restart of the NBA season has increased inplay turnover on basketball, options with basketball accounting for 38 per cent of all inplay turnover for the month, at a margin of 7 per cent.

“The pre-match sports margin was influenced by the beginning of the summer sports season with cricket, basketball and football accounting for 70 per cent of all pre-match turnover.”

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