Tabcorp posts revenue of US$1.58bn for FY23

Tabcorp’s wagering and media division generated AU$2.23bn in revenue.
Tabcorp’s wagering and media division generated AU$2.23bn in revenue.

Tabcorp’s revenue was up 2.6 per cent when compared to the previous fiscal year.

Australia.- Tabcorp Holdings has shared its financial results for the financial year ended June 30. Revenue from continuing operations was AU$2.43bn (US$1.58bn), up 2.6 per cent year-on-year

Group EBITDA was AU$391m, up from AU$381.6m. Statutory net profit after tax (NPAT) was AU$66.5m. Statutory net profit before income tax, net finance costs and equity accounted investment was AU$117.9m, compared to a loss of AU$75.1m in last year.

Wagering and media revenues were AU$2,230.8m, up 2.2 per cent. Revenues from wagering increased by 1.9 per cent to AU$1,761.1m. TAB cash wagering revenues were AU$818.4m, up 25.1 per cent, as customers returned to venues post Covid-19 lockdowns and retail closures. 

TAB digital wagering revenues were AU$942.7m, down 12.2 per cent, impacted by a softening digital wagering market. Tabcorp reported a 3.4 per cent increase in media and international revenue to AU$469.7m. This was attributed to higher revenue from vision exports and new digital distribution agreements. Gaming services revenues were AU$203.6m, up 5.5 per cent.

Tabcorp Managing Director and CEO Adam Rytenskild, and chair Bruce Akhurst said: “We’re pleased to report that in our first full year following the Demerger, we achieved what we pledged to investors we would do and have laid the foundations for growth. 

“TAB launched a new App on time as promised to the market with a record 805,000 active customers in FY23, a level playing field was legislated in Queensland and our Gaming Services business continued its transition to an integrity services model. 

“We also launched our TAB25 vision to reshape our Company into a simpler, growing, more valuable business, providing investors with clarity around our strategic goals for the next three years.” 

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