financial results<\/a><\/em><\/strong> for the 12 months that ended on June 30.<\/p>\n\n\n\nTabcorp Managing Director and CEO David Attenborough said: \u201cThe Covid-19 pandemic has been very challenging for Tabcorp\u2019s people, partners and customers, and materially impacted our FY20 results. <\/p>\n\n\n\n
“However, the strength of our diversified gambling entertainment group, and the value of our investments in integration and digital transformation, have been clearly demonstrated by our lotteries business delivering a strong performance and the digital growth in both wagering and keno.\u201d<\/p>\n\n\n\n
The group reported a 4.8 per cent year-on-year drop in revenues, to AU$5,224 million (US$3,754 million), and EBITDA of AU$995 million (US$715 million), down 11.5 per cent on the same period last year, \u201cprimarily due to Covid-19.\u201d<\/p>\n\n\n\n
Lottery sales were up during Covid-19 restrictions, but Tabcorp\u2019s wagering & media, keno and gaming services were heavily impacted by retail closures in the second half of the fiscal year.<\/p>\n\n\n\n
Wagering and media revenues were AU$2,084 million (US$1,497 million), down 10.1 per cent on the previous year. Lottery and keno revenues were AU$2,917 million (US$2,095 million), up 1.8 per cent.<\/p>\n\n\n\n
Gaming Services revenues were AU$221 million (US$158.7 million), down 27.3 per cent, and EBITDA was AU$84 million (US$60.3 million), which meant a 42.5 per cent drop since the previous fiscal year.<\/p>\n\n\n\n
The company said in a release: \u201cThe lotteries result reflects investments in digital and retail channels and the evolution of Tabcorp\u2019s game portfolio to appeal to a diverse and growing customer base. An extra 400,000 Australians became active registered lotteries players during FY20, taking the total to 3.7 million.\u201d<\/p>\n\n\n\n
Attenborough said: \u201cCovid-19 restrictions meant that hotels, clubs and TAB agencies were closed for significant periods of time during FY20. This has heavily impacted our wagering & media, gaming services and keno operations. We continue to support our venue partners and have waived more than AU$100 million in fees to date.\u201d<\/p>\n\n\n\n
Tabcorp said the business \u201cwas heavily impacted by the temporary closure of venues from 23 March 2020, which reopened in June in all states bar Victoria under strict social distancing protocols.\u201d<\/p>\n\n\n\n
The board declared no final dividend for the period.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Australian gaming company has posted a 4.8 per cent year-on-year drop in revenues due to the pandemic. \u00a0<\/p>\n","protected":false},"author":2,"featured_media":9169,"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, an Australian gaming and lottery operator, reported a 4.8% year-on-year revenue decline and an 11.5% EBITDA drop for FY20, primarily due to COVID-19 retail closures impacting its wagering, keno, and gaming services verticals. To bolster its balance sheet and manage debt, the company announced a AU$600 million underwritten accelerated entitlement offer of shares. Despite the overall decline, its lotteries segment demonstrated resilience with digital growth and increased active players.","focusai_entities":"Tabcorp, David Attenborough","focusai_location":"Australia, Victoria","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Entitlement Offer Impact","query":"What is the projected dilution effect on existing Tabcorp shareholders following the AU$600 million accelerated entitlement offer, and how will this impact the company's debt-to-equity ratio post-transaction?"},{"label":"Vertical Performance Outlook","query":"Given the divergent performance of Tabcorp's lotteries versus wagering and gaming services verticals, what specific strategic initiatives are planned to accelerate recovery and digital penetration in the underperforming segments?"}],"footnotes":""},"categories":[16336,163],"tags":[289,20778,13716],"class_list":["post-9167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-australia","tag-financial-results","tag-tabcorp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9167","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=9167"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9167\/revisions"}],"predecessor-version":[{"id":9189,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9167\/revisions\/9189"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9169"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}