Tabcorp full-year digital turnover up 12%
Melbourne-based wagering giant looks to diversify its online capabilities with the recent launch of Sun Bets product
Australian operator Tabcorp today reported a 12% rise in full-year digital wagering turnover as the company eyes future international growth from its UK Sun Bets venture.
According to the Melbourne-based firm’s 2015-16 financial statement, online turnover increased to AU$3.8bn (£2.2bn) during the 12-month period, boosted by the launch of its new TAB mobile app.
Turnover growth was particularly strong during the second half of the financial year, up 15% year-on-year to $1.9bn (£1.1bn), while in H1 turnover increased 9.2%.
Today’s financial results come just days after the launch of its new UK-facing Sun Bets, in partnership with media giant News UK, which will be backed by a major marketing campaign this weekend.
Last December, News UK appointed Tabcorp in a 10-year revenue share deal, marking the Australian operator’s first venture into Europe.
“Recent initiatives such as the proposed acquisition of INTECQ and the launch of Sun Bets further strengthen and diversify our operations,” David Attenborough, managing director and CEO of Tabcorp, said.
“Sun Bets is an exciting opportunity for Tabcorp to take its market-leading wagering capabilities into the $7bn UK online gambling market.”
The ASX-listed operator’s group revenues increased 1.5% year-on-year to $2.2bn (£1.3bn), with its wagering and media business accounting for $1.9bn (£1.1bn) of the total, while EBITDA was up 0.8% to $337.2m.