Tabcorp online turnover offsets oncourse decline
Both Luxbet and traditional online operations experience double-digit percentage growth for third quarter.
Australian former monopoly Tabcorp has seen continued year-on-year turnover growth from its online operations, the company revealed in its trading update for the three months ended 31 March.
The AU$502.7m online total represents a 16% increase on the corresponding period in 2011, while the operator’s Northern Territory licensed fixed-odds sportsbook Luxbet grew its turnover by 11% to $145.2m.
However the operator’s oncourse betting turnover continued to decline, falling 19.2% year-on-year to $187.1m after H1 turnover was down 11.7%.
Group revenues for the period rose 2.7% year-on-year to $724m, with the greatest contribution coming from wagering, up 4.5% year-on-year to $386.6m.
CEO David Attenborough said: “Our wagering business is benefiting from our multi-channel distribution strategy, particularly our focus on the expansion of self-service and mobile technologies, and from continued investment in new products and services.”