By Clyde Mooney

Tabcorp has released promising and revealing figures about the start of its 2012 financial year despite the ‘significant challenges faced by gaming retailers in the current trading environment’.

Shareholders welcomed the news with a $0.11 boost to the stock value, which had understandably suffered devaluation after the gaming and wagering giant’s recent split with its casino interests.

The company’s four divisions each showed upward growth, with the greatest performances coming through Keno (6.9 percent) and Media & International (4.7 percent).

Wagering enjoyed growth of 2.0 percent, incorporating a significant 18.2 percent increase in fixed odds betting.

The strongest performer, Keno, increased revenues to $45.8 million, delivering the roll out of Keno Touch self-service terminals and expanding its NSW hotel network.

While retail wagering turnover increased 6.7 percent in NSW, it managed only 1.7 percent in Victoria and both pale beside the 19.8 percent increase in internet betting.

“The strength of our brands and the strategies we have in place are translating into revenue growth, despite the difficult trading conditions that many companies are experiencing,” says Tabcorp’s managing director and CEO, David Attenborough.

The Shout Team

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