Tabcorp posts 21% digital turnover growth

Tabcorp has recorded a 21% year-on-year increase in Q1 digital turnover following a strong World Cup performance and continued growth in mobile, which contributed almost two-thirds of online turnover.

The Melbourne-based operator reported total digital turnover of AU$796.3m (£435m) for three-month period ended 30 September with mobile devices accounting for 62% of the total, compared to 54% for the full-year 2014.

Total group revenues increased 6.6% year-on-year to $537.4m which the former Australian monopoly attributed to a “successful end” to the 2014 World Cup in Brazil.

“Tabcorp has started the 2015 financial year well and we are seeing the benefits of targeted investment in our channels and products,” Tabcorp managing director and chief executive, David Attenborough, said.

The company’s Northern Territory online bookmaking business Luxbet posted revenues of $14.3m, up 29%, while total wagering turnover increased 8% to $415.9bn.

“In wagering, our investment in recent years in high growth areas such as digital and fixed odds is paying off,” Attenborough said.

“We are achieving strong growth in these areas and the business, as a whole, has positive momentum,” he added.

The company’s fixed odds arm was also a key wagering growth driver after product expansion led to a 32% year-on-year increase in revenues to $162.2m and media and international revenues increased 4.8% year-on-year to $57.1m.

The Australian operator announced yesterday it had completed a deal to acquire state-owned telephone betting company ACTTAB for $105.5m from the Australian Capital Territory government.