Tabcorp's online growth driven by mobile
Operator also sees increased turnover for Luxbet business and overall group revenues in Q3
Australian former monopoly Tabcorp said mobile sports betting helped it to a 13% year-on-year increase in online turnover in its third-quarter results announcement.
The operator achieved a turnover of AU$581.4m (£387m) from its online operations for the three months ended 31 March, with Tabcorp attributing the progress to the increased number of transactions made by its customers on mobile devices. The results continue Tabcorp’s recent progress in online, after posting a 15.9% increase for the first half of the financial year, compared to H1 2012.
The company’s Luxbet sportsbook business has also shown growth, with its total turnover up 5.6% year-on-year in the quarter to $153.4m. Tabcorp’s group revenue in Q3, $480.3m, was a 2.6% rise compared to the corresponding quarter last year.
Tabcorp’s CEO and managing director David Attenborough commented that Q3 growth was “broadly in line” with the company’s H1 results. “All four Tabcorp businesses continued to yield positive revenue results,” he added. “Our businesses are benefiting from the investments we have made in markets and products that can generate growth.”
The brand has also made a move into the social gaming space, signing a deal in January to launch a social betting app on Australian social sportsbook Favourit.