Tabcorp, the Australian lottery and betting operator, has announced that it recorded a slight revenue increase in the first half of the 2021-2022 fiscal year, mostly thanks to the solid performance of its lottery division.
Revenue for the six months to December 31 2021 was up 2.2 percent year-on-year, for a total of 2.93 billion Australian dollars. The Lotteries and Keno division generated most of that revenue, a total of 1.78 billion Australian dollars for an increase of 10.9 percent compared to the same period of the previous year.
That strong result was recorded despite difficult conditions as keno venues had to deal with trading restrictions due to the novel coronavirus pandemic. In fact, keno revenue was down 9.8 percent, but that loss was recovered thanks to lottery revenue which increased by 12.7 percent to 1.67 billion Australian dollars.
The company’s retail network for lottery products, which includes newsagents, petrol stations, kiosks and pharmacies, managed to increase the turnover by 5 percent, while the digital sales amounted to 36.7 percent of the total.
David Attenboroug, the Managing Director and Chief Executive Officer of Tabcorp, underlined that the good performance of the division proved “the broad appeal of the business’ much-loved products and brands, and the success of its omnichannel strategy”.