Tabcorp Reports Increase in Revenue after Lotteries Demerger

Ben H / 1 September 2023

Anyone wondering how well Tabcorp was doing after the lotteries demerger has just got their answer. The wagering and racing giant released a report showing the firm recorded a 2.4% increase in revenue and had earnings in the region of $2.43 billion for the 2023 fiscal year.

Most of the revenue came from Tabcorp’s Wagering and Media division which contributed $2.23 billion to the company’s bottom line, representing a year-on-year increase of 2.2%.

Other figures from the report followed the same upward trajectory. EBITDA was 8.4% up compared to the previous 12 months and reached $391 million, while net profit after tax was $66.5 million.

Tabcorp also saw a 3% increase in the number of customers with active betting accounts and boasted of currently having 805,000 active customers.

Tabcorp’s Transformation Strategy is Right on Track

Tabcorp Managing Director and Chief Executive Officer Adam Rytenskild highlighted that the figures Tabcorp released illustrated just how successful the TAB25 transformation strategy was.

Rytensklid said that the foundation for Tabcorp’s growth had already been created with the betting operator rolling out “the right products, policy settings and attracting the people needed.”

The Tabcorp chief pointed to the increase in revenue, earnings, and active bettors, as key indicators of the company’s success in achieving the “TAB25 ambitions,” adding Tabcorp was outperforming the market when it came to revenue and EBITDA in the 2023 fiscal year.

Rytenskild was pleased that Tabcorp could weather the storm of an “aggressive new operator” entering the market and the “increased generosity” of industry rivals.

Tabcorp Holdings Ltd (ASX: TAH) recently announced to the market that it will pay a 1.0 per share dividend to all shareholders on 18 September 2023.

Related News

Horse Racing Tips

Keep up-to-date with all the best Horse Racing tips today.

AFL Betting Tips

Stay on top of your game this season by keeping up-to-date with our AFL betting tips.

NRL Betting Tips

Keep on top of your game this season by staying up-to-date with our NRL betting tips.

Racing Statistics

Want to know the odds of your horse winning? take a look at the horse racing statistics.

The verdant surroundings and rustic ambience of Warwick Farm lend a distinct racing charm. While racing takes held on 23 Wednesday afternoons, the Australia Day race meeting in January is the main event. The racecourse is at the centre of a community that ...

The Warrnambool Racecourse is located in the suburb of Warrnambool, in a picturesque valley with great natural viewing platforms. Warrnambool Racecourse is around 260 kilometres from Melbourne’s CBD.

Terang Racing Club, sometimes known as the Flemington of the Bush, has a long and rich history of racing in the southwest. The expansive course was designed by the same person who created the Flemington track. The facilities include a well-kept, vast grandstand with a...

Swan Hill Racecourse is located in the centre of the Murray Region, 340 kilometres from Melbourne.Swan Hill Racecourse June racing festival has earned a name for itself as the best country festival in the state, if not the entire nation. The advice is to book as soon as ...

Sale Racecourse has first-rate facilities, including a wholly climate-controlled Public Bar and Grandstand Bar open on race days.The take pleasure in being a community club that includes our surrounding townships. Because of their family-friendly ambience and specific ...

Ben H
Ben Harris is the Communications Manager for KRUZEY, an AFL expert, and writer. He has one daughter that he loves dearly and four children's books... [Read full bio]

Comments are closed.

Think. Is this a bet you really want to place? Set a deposit limit.

For free and confidential support call 1800 858 858 or visit