{"id":777002609,"date":"2023-02-21T14:08:02","date_gmt":"2023-02-21T17:08:02","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777002609"},"modified":"2026-04-23T00:26:12","modified_gmt":"2026-04-23T03:26:12","slug":"tabcorp-posts-us880m-in-revenue-for-h1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/tabcorp-posts-us880m-in-revenue-for-h1","title":{"rendered":"Tabcorp posts US$880m in revenue for H1"},"content":{"rendered":"\n

The company rebounded to see strong growth in group revenue and EBITDA.<\/p>\n\n\n\n\n\n\n\n

Australia.- Tabcorp <\/strong>has shared its financial results for the first half of the financial year 2023, reporting AU$1.28bn (US$880m) in revenue. The figure was up 11 per cent when compared to the previous year<\/a>.<\/p>\n\n\n\n

Statutory Net Profit after Tax (NPAT) was AU$52m, and EBITDA was AU$197m, a 24 per cent increase. Tabcorp reported a 58 per cent growth in cash wagering revenue following a strong rebound from a Covid-19-impacted 2022.<\/p>\n\n\n\n

Revenues in the wagering and media business increased by 9 per cent year-on-year to AU$1.17bn with digital revenue down from AU$579m to AU$493m. Digital revenue market share was 25.1 per cent, in line with the first half of the year 2022. <\/p>\n\n\n\n

Despite a decline in digital turnover <\/strong>from AU$5.26bn to AU$4.92bn, Tabcorp’s active users rose from 780,000 to 797,000, suggesting continued demand for digital products despite the full reopening of retail.<\/p>\n\n\n\n

In game services<\/strong>, revenue rose 35.9 per cent to AU$108.8m. This includes Integrity Services revenue of AU$57.9m, up 31.9 per cent year-over-year, while other event services revenue also rose 42.6 per cent to AU$50.9m.<\/p>\n\n\n\n

Six-month operating expenses were AU$323.2m, up 4.1 per cent year-over-year. Tabcorp recorded variable contributions of AU$519.8m and amortisation charges of AU$123.4m.<\/p>\n\n\n\n

Tabcorp Managing Director and CEO Adam Rytenskild<\/strong>, said: “Today\u2019s results highlight that our transformation strategy, which commenced on 1 June 2022, is working. <\/p>\n\n\n\n

“Our business has rebounded strongly from a Covid-19 impacted first half last year to experience strong growth in Group revenue and EBITDA. The Covid-19 lockdowns presented an opportunity for digital only operators, but our retail customers have quickly returned and our digital transformation is amplifying that opportunity.<\/p>\n\n\n\n

\u201cI\u2019m particularly pleased that, with new entrants entering the market and retail venues reopening, TAB held digital revenue market share for the first time since 2019. To retain our market share, while a new entrant took share from competitors and retail reopened, highlights that customers are loving the new TAB App.”<\/p>\n\n\n\n

Rytenskild said Tabcorp is targeting 30 per cent ofdigital revenue market share by 2025.<\/p>\n\n\n\n

He said: “We\u2019ll do this with a transformation of our entire wagering ecosystem, including new products for punters, a reinvigoration of Sky Racing that will include a greater integration with TAB and the implementation of our new marketing strategy. <\/p>\n\n\n\n

“The successful launch of the new TAB App, which helped us retain digital market share despite the introduction of a new competitor, has provided a strong launch pad to reach our 30 per cent target<\/strong>.” <\/p>\n\n\n\n

See also: <\/strong>Tabcorp launches legal action against Entain over NSW pubs deal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The company rebounded to see strong growth in group revenue and EBITDA.<\/p>\n","protected":false},"author":176,"featured_media":17276,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Tabcorp reported strong H1 FY23 financial results, with group revenue up 11% to AU$1.28bn and EBITDA increasing 24% to AU$197m, driven by a post-Covid-19 rebound in cash wagering. The company maintained its digital revenue market share at 25.1% despite new market entrants and retail reopening, attributing this to its transformation strategy and the new TAB App. CEO Adam Rytenskild outlined a target of 30% digital market share by 2025, supported by product innovation and marketing initiatives.","focusai_entities":"Tabcorp, Adam Rytenskild, Entain","focusai_location":"Australia, NSW","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.7), operator_casino (1.0), affiliate_publisher (0.7), product_ux (0.9), tech_data (0.8), marketing_crm (1.0), payments_fraud_aml (0.7), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Digital Market Share Strategy","query":"What specific product enhancements and marketing channel allocations are planned to achieve the 30% digital revenue market share target by 2025, particularly in a competitive landscape with new entrants?"},{"label":"Retail vs. Digital Synergies","query":"How does Tabcorp plan to further leverage its extensive retail footprint to drive digital adoption and cross-sell, especially given the post-COVID return of retail customers and the decline in digital turnover despite user growth?"}],"footnotes":""},"categories":[16336,163],"tags":[13716],"class_list":["post-777002609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-tabcorp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002609","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=777002609"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002609\/revisions"}],"predecessor-version":[{"id":777002646,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002609\/revisions\/777002646"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17276"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777002609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777002609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777002609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}