Mobile drives Tabcorp online growth
Mobile offering accounts for 43% as online wagering turnover grows 13.6%
Mobile betting helped Australian operator Tabcorp record a 13.6% year-on-year rise in online wagering turnover as group net profit fell by some 63%, the company revealed in its financial results for the year ended 30 June.
The former monopoly saw online wagering turnover grow to AU$2.45bn, up from $2.16bn compared to last year, with its mobile offering accounting for 43% of Tabcorp’s digital turnover, almost double that of 28% in the first half of the year. In total, the operator’s iPhone, iPad and Android apps were downloaded more than 900,000 times.
However Tabcorp’s overall net profits fell sharply by 63% to $126.6m and revenues were down 30% to $2.13bn. The company’s Luxbet business, one of several operators listed on Oddschecker’s Australia equivalent Oddsscanner, posted revenues of $39.4m, up 40.1% compared to last year.
Despite a significant fall in profits, Tabcorp CEO and managing director David Attenborough believed it had been a positive year for the company. “Tabcorp has had a successful FY13, while managing significant change to our business portfolio and navigating challenging external trading conditions,” he said.
“Our FY13 initiatives have substantially de-risked Tabcorp and have created a clearer agenda for FY14 and beyond,” he added.
The results come after the operator recently announced the acquisition of television wagering service Tab Active from casino operator Donaco International for $863,000.