Tabcorp receives approval to trial live in-venue betting in New South Wales
The trial has begun in two pubs and will be extended to 20 venues.
Australia.- Tabcorp has announced that it has received regulatory approval to trial in-play betting via its tap-and-play app in licensed pubs and clubs in New South Wales (NSW).
According to local media, the trial has already commenced with the launch of the new system at Cheers Sports Bar and Grill Sydney and Canterbury-Hurlstone Park RSL and will expamd to 20 venues in the coming weeks.
Gillon McLachlan, managing director and CEO elect, told investors at the Macquarie Australia Conference: “I believe this is the future of wagering. There’s a heavy level of interest from all the retail outlets.” Under existing retail agreements, Tabcorp holds access to approximately 3,700 pubs and clubs across NSW, Victoria, South Australia, Queensland, and the Northern Territory.
In-play betting is currently only available via TAB self-service terminals, over the counter from a TAB operator or by contacting the TAB call centre. The segment represents only four per cent of domestic turnover.
For the first half of the financial year 2025, Tabcorp reported AU$1.33bn (US$846m) in revenue. The figure was up 10 per cent year-on-year. The company attributed the growth to the reformed Victorian Wagering and Betting Licence, which commenced on August 16 2024.
Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) was up 12 per cent to AU$190.2m (US$121m), while net profit after tax was up 25.6 per cent to AU$22.1m (US$14m). Tabcorp declared an interim dividend of 1.0 cents per share, unfranked.
Wagering and media revenue was AU$1.24bn (US$790m), up 11.3 per cent. Wagering revenue alone was up 14.1 per cent driven by the assumption of 100 per cent of Victorian revenue following the end of the joint venture with the Victorian Racing Industry (VRI). Excluding the VRI impact, domestic wagering revenue increased 0.8 per cent. Media revenue increased 1.6 per cent.
Wagering and Media EBITDA was up 16.9 per cent year-on-year to AU$156.7m (US$100m) and EBITDA margin by 60bps to 12.6 per cent.
