{"id":34116,"date":"2022-10-05T07:23:15","date_gmt":"2022-10-05T10:23:15","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=34116"},"modified":"2026-04-23T04:15:42","modified_gmt":"2026-04-23T07:15:42","slug":"tab-nz-posts-gross-betting-revenue-of-us18-1m-for-august","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/tab-nz-posts-gross-betting-revenue-of-us18-1m-for-august","title":{"rendered":"TAB NZ posts gross betting revenue of US$18.1m for August"},"content":{"rendered":"\n<p>Tab NZ has reported that its August turnover was 6 per cent below budget.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>New Zealand.- TAB NZ has reported a 6 per cent shortfall in turnover for August. Revenue came in at NZ$31.5m (US$18.1m). Profit for the month was NZ$10.4m, NZ$1.4m below budget. In July,&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/tab-nz-posts-turnover-of-us123-2m-for-july\" target=\"_blank\">TAB NZ<\/a>&nbsp;reported a profit of NZ$8.7m, NZ$5.2m below budget.&nbsp;<\/p>\n\n\n\n<p>The most popular event in August was the <strong>rugby match between New Zealand and Argentina <\/strong>on August 27, which drew NZ$978,000 in bets. For racing, the Waikato Stud Foxbridge Plate at Te Rapa on the same day attracted NZ$500,000 in wagers.<\/p>\n\n\n\n<p>The company said a range of ongoing factors impacted its financial results, including <strong>weak economic conditions<\/strong> impacting customers&#8217; discretionary spending, Covid-19-related mask restrictions in retail stores preventing some customers from visiting and cancelled racing events due to bad weather.<\/p>\n\n\n\n<p>Operating expenses for the month hit <strong>NZ$10.5m<\/strong>, slightly above budget by NZ$300,000 due to restructuring costs and investments in customer retention and acquisition. In terms of allocation, Tab NZ paid Racing Codes NZ$12.4m this month, slightly more than its original budget of NZ$12.3m.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tab NZ has reported that its August turnover was 6 per cent below budget.<\/p>\n","protected":false},"author":176,"featured_media":23932,"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 NZ reported a 6% turnover shortfall and NZ$1.4m profit below budget for August, following a significant miss in July. This underperformance is attributed to macroeconomic headwinds, lingering COVID-19 restrictions impacting retail, and weather-related event cancellations. Despite revenue pressures, operating expenses increased due to restructuring and customer acquisition investments, while payments to Racing Codes exceeded budget.","focusai_entities":"TAB NZ, Racing Codes, Waikato Stud","focusai_location":"New Zealand, Te Rapa","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), marketing_crm (0.8), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q3 Outlook?","query":"Given the persistent macroeconomic headwinds and increased operational expenditure, what is TAB NZ's revised GGR and NGR forecast for Q3, and what specific mitigation strategies are being implemented to address the ongoing turnover shortfall?"},{"label":"Operational Efficiency?","query":"How are the restructuring costs and increased customer acquisition investments expected to yield improved operational efficiency and NGR growth in subsequent reporting periods, particularly in a constrained discretionary spending environment?"}],"footnotes":""},"categories":[16336,163],"tags":[23709],"class_list":["post-34116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-tab-nz"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34116","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=34116"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34116\/revisions"}],"predecessor-version":[{"id":34138,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34116\/revisions\/34138"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/23932"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=34116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=34116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=34116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}