TAB NZ revenue up 6.6% for September
TAB NZ’s revenue reached NZ$191.9m (US$137.7m) in September, up 6.6 per cent when compared to the previous month.
New Zealand.- Tab New Zealand has reported a 6.6 per cent month-on-month increase in revenue for September. However, the figure was NZ$9.4m below budget and NZ$18.8m down when compared to September 2020. Gross betting revenue was NZ$33.7m (US$24.1m), NZ$1.5m above budget.
TAB NZ’s operations were affected by new Covid-19 restrictions, with many areas on level 3 alert. Profits for the month reached NZ$13.8m, up 58.6 per cent month-on-month, while operating expenses were NZ$9.1m.
The Tarzino Trophy in Hastings was the most profitable event of the month, generating NZ$635,000. It was followed by Sir Rupert Clarke in Caulfield at NZ$508,000 and the War Decree 1200 at Te Rapa (NZ$439,000).
In terms of sporting events, the New Zealand Rugby Union had the most popular matches against South Africa and Australia, raising NZ$933,000 and NZ$800,000 respectively. The rugby league between the South Sydney Rabbits and Manly Seahawks followed closely with a prize of NZ$664,000.
TAB NZ said: “Notwithstanding these challenges, the TAB and industry is maintaining a much more robust position financially than during last year’s nationwide lockdown.
“However, as the Government response to Covid-19 continues to adapt and evolve, TAB NZ will continue to act with caution when assessing future potential trading conditions and how this will flow on to profit distribution.”
The company said betting performance for the first half of October had been relatively strong, but that the continued closure of retail in Auckland presented challenges for the business.
