Tabcorp online growth continues
Former Australian monopoly sees online wagering turnover grow 14.3% in Q1 2014
Australian operator Tabcorp has posted 14.3% year-on-year growth in online wagering turnover for Q1 2014, contributing to a 3.1% rise in overall group revenues.
The former monopoly saw total digital wagering grow to AU$656.1m, up from $573.9m during the same period last year, for the three months ending 30 September.
Total group revenues rose to $503.9m in the quarter, a 3.1% increase from $488.9m in Q1 2013, and the operator’s online sportsbook brand Luxbet recorded revenues of $11.1m, up 37% compared to last year.
Tabcorp managing director and chief executive officer David Attenborough said he believed the Australian operator had performed well over the quarter.
“The first quarter revenue growth demonstrates the resilience of Tabcorp’s businesses in tough external trading conditions,” he said. “We remain focused on continuing to leverage the benefits of our multi-channel distribution strategy and strengthening our customer proposition.”
The trading update follows the release of the company’s full year results in August which showed a strong performance from its mobile channel after accounting for 43% of Tabcorp’s digital turnover.
In July the operator also announced the acquisition of television wagering service Tab Active from casino operator Donaco International for $863,000.