Tatts says "fight back" is on as revenues rise 13%
Full-year sales from the Brisbane-based operator's online wagering business increase 13% year-on-year
Tatts Group is ready to begin the “fight back” against its Australian sports betting rivals after recording double-digit sales growth from its online wagering business in 2015, according to the company’s CEO Robbie Cooke.
The Brisbane-based firm’s sales from its digital wagering arm for the 12 months ended 30 June 2015 increased 13% year-on-year, accounting for 26% of all digital sales, while its online lotteries business grew 21%.
Total group revenues, which includes the operator’s larger land-based business, increased 1.8% year-on-year to AU$2.9bn (£1.4bn), while the firm also posted 1.8% growth in EBITDA to $507.4m (£237m).
The results come after the Australian operator launched its new multi-channel wagering brand UBET in April, which included a new website and mobile apps, in addition to rebranded retail stores.
Tatts Group CEO Robbie Cooke this morning praised the performance of the company’s online business and the initial performance of its UBET brand.
“Wagering was a huge area of focus in the year leading to the launch of UBET on 30 April 2015 [and while it’s] early days, the consumer response to UBET has been very pleasing,” Cooke said.
“We are now well positioned to start fighting back in this highly competitive space, and the next 24 months presents an exciting state in the evolution of our wagering operation,” he added.
Tatts Group first announced the launch of UBET in November, bringing together TAB Queensland, tabonline, unitab and TattsBet, as well as Tasmania’s The Tote and Tatts.com under one wagering banner.