{"id":10467,"date":"2020-09-29T20:56:08","date_gmt":"2020-09-29T20:56:08","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=10467"},"modified":"2026-04-24T01:25:31","modified_gmt":"2026-04-24T04:25:31","slug":"tab-nz-august-results-surpass-expectations","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/tab-nz-august-results-surpass-expectations","title":{"rendered":"TAB NZ August results surpass expectations"},"content":{"rendered":"\n

Sports betting turnover grew 36 per cent with racing up 10 per cent year-on-year.\u00a0<\/p>\n\n\n\n\n\n\n\n

New Zealand.- TAB New Zealand (TAB NZ) has reported that its financial results for August surpassed expectations, benefiting from a condensed calendar of sporting events.<\/p>\n\n\n\n

In the first month of its 2020\/21 financial year, the sports betting company said results surpassed last year\u2019s and beat projections for the month.<\/p>\n\n\n\n

Net profit hit AU$12.8 million (US$9.12 million), which was AU$1.7 million (US$1.21 million) above its forecast and AU$1.4 million (US$998,302) above the same month in 2019.<\/p>\n\n\n\n

Betting profits reached AU$11.9 million (US$8,48 million), and gaming profits AU$1.4 million (US$998,420). <\/p>\n\n\n\n

Total gaming revenue, however, was below forecast at AU$0.6 million (US$427,894) due to Covid-19 measures taken in Auckland<\/a><\/em><\/strong>, where betting shops were closed for 19 days of the month.<\/p>\n\n\n\n

Sports turnover rose 36 per cent due to sports seasons and events overlapping where they traditionally would not. TAB NZ said this had helped to drive customer engagement levels.<\/p>\n\n\n\n

Racing turnover increased a 10.1 per cent year-on-year, with no significant increase in the volume of races but a 4 per cent increase in the number of customers compared to July.<\/p>\n\n\n\n

TAB NZ said this was a result of a change of habits since those who used to bet only on domestic racing prior to the Covid-19 lockdown \u201chave maintained their overseas racing activity while their domestic racing activity has returned back to prior levels.\u201d<\/p>\n\n\n\n

In August, the company had 94,000 customers, which in some days showed peaks similar to those normally seen for the Melbourne Cup or the NZ Cup Week.<\/p>\n\n\n\n

Although results surpassed expectations, the TAB NZ board said it “remains cautious at this early stage of the season on the ability to meet full year projections.<\/p>\n\n\n\n

\u201cThis is given the ongoing uncertainty presented by Covid-19 and the potential for further disruption to domestic and international product supply.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Sports betting turnover grew 36 per cent with racing up 10 per cent year-on-year.\u00a0<\/p>\n","protected":false},"author":2,"featured_media":10469,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"TAB New Zealand reported August 2020\/21 financial results exceeding expectations, with net profit reaching AU$12.8 million. This performance was driven by a 36% increase in sports betting turnover and a 10.1% rise in racing turnover, attributed to a condensed sporting calendar and sustained overseas racing activity post-lockdown. Despite strong initial results, the board remains cautious regarding full-year projections due to ongoing COVID-19 uncertainties and potential product supply disruptions.","focusai_entities":"TAB New Zealand, TAB NZ","focusai_location":"New Zealand, Auckland","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.95), affiliate_publisher (0.7), product_ux (0.7), marketing_crm (0.85), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Full-year Projection Risks?","query":"What specific operational or regulatory headwinds, beyond general COVID-19 uncertainty, could impede TAB NZ's ability to meet its full-year financial projections, particularly concerning product supply chain resilience?"},{"label":"Customer Habit Sustainability?","query":"To what extent does TAB NZ anticipate the observed shift in customer betting habits, specifically the sustained engagement with overseas racing, will persist beyond the immediate impact of COVID-19 lockdowns, and what strategies are in place to retain this new player segment?"}],"footnotes":""},"categories":[16336,163],"tags":[338,23709],"class_list":["post-10467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-new-zealand","tag-tab-nz"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=10467"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10467\/revisions"}],"predecessor-version":[{"id":10476,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10467\/revisions\/10476"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10469"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=10467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=10467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=10467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}