Tabcorp gets digital, fixed-odds betting boost

Australian betting operator Tabcorp says its digital channel was among the “dominant drivers” of the company’s fiscal Q3 results.

Tabcorp’s digital channel reported turnover up 16.8% to AUD 815m (US $638m) in the three months ending March 31. For the fiscal year to date, the digital channel is up 20.1%. Despite these gains, revenue at Tabcorp’s Northern Territory-licensed site Luxbet fell 12.6% to $12.5m due to “unfavorable yield movements.”

Tabcorp’s retail turnover rose a more modest 3.3% to AUD 1.59b. Tabcorp says work is progressing on integrating its retail and digital channels, an approach the company claims will offer customers more touch points than any of its Aussie rivals.

Totalisator betting easily maintained its dominance over its fixed-odds rival, but tote revenue fell 0.8% to AUD 290.9m while fixed-odds rose 31.9% to AUD 105.8m. TAB Sports revenue was down 1.8% to AUD 44.5m due in part to a stellar performance in the previous Q3. The Trackside animated racing business improved 16% to AUD 23.9m while media operations rose 9% to AUID 43.6m on the strength of its international business.