Tabcorp revenue up 8.8% for FY21

Tabcorp has shared its financial results for the fiscal year 2021.
Tabcorp has shared its financial results for the fiscal year 2021.

Tabcorp has reported profits in lottery and keno and improved performance from its wagering and media arm.

Australia.- Tabcorp has revealed its financial results for the fiscal year 2021, reporting revenue up 8.8 per cent, while EBITDA grew 11.3 per cent year-on-year. Statutory net profit after tax went from a loss of AU$870m in FY20 to a profit of AU$269m in FY21. 

The lotteries and Keno unit saw digital turnover rise 30 per cent despite below-average jackpots and a resilient performance in retail. The Wagering & Media unit saw revenues of AU$2.3bn, up 10 per cent year-on-year. Digital wagering turnover grew 27 per cent.

Tabcorp said its gaming services unit was affected by Covid-19 restrictions and lockdowns, mainly in the state of Victoria, which led to a fall of 17.2 per cent.

David Attenborough, Tabcorp managing director and CEO, said: “In the face of substantial challenges from the Covid-19 pandemic, our businesses delivered a strong operational performance and double-digit earnings growth. 

“Our teams and business partners worked collaboratively to manage the evolving restrictions and our omnichannel business model ensured our customers could continue to enjoy their gambling entertainment experiences.” 

Tabcorp plans to use artificial intelligence

The company has announced it will roll out an artificial intelligence (AI) programme to predict the results of American Football games. The strategic move is aimed at helping the operator to avoid losing ground to rivals such as Ladbrokes and Sportsbet as players turn to online gambling amid the Covid-19 pandemic.

David Beirne, general manager of trading at Tabcorp, said “artificial intelligence will significantly increase the betting markets which sports fans can bet on.”

The AI tool will run more than 1,000 simulations to predict outcomes for American Football Games. Beirne says that for a single NFL game, players will have more than 120 possible outcomes to bet on. The platform be tested on NFL games but could be used for tennis and NBA games in the future.

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