According to the FY23 report, revenue from continuing operations came to AU$2.4 billion ($1.5 billion/€1.42 billion) with the majority of company revenue coming through its wagering and media division.
Tabcorp FY23 Report Reveals a 2.4% Increase in RevenuesIn the Wagering and Media segment, revenues grew by 2.2% to AU$2.23 billion ($1.43 billion/€1.32 billion) while EBITDA for the segment grew by 7.3% to AU$308 million ($198 million/€183.3 million). Tabcorp attributed this growth to an increase of 3% in active account customers to a record 805,000 in FY23.
Tabcorp FY23 highlights
- Group Revenue of AU$2.4 billion – up 2% on FY22 Tabcorp FY23 Report Reveals a 2.4% Increase in Revenues Tabcorp FY23 Report Reveals a 2.4% Increase in Revenues
- Group operating expenses (opex) of AU$618 million – down 1% on FY22
- Record digital active TAB customers of 805,000 – an increase of 3% year-on-year
- Total TAB Revenue Market Share of 34.6% versus 33.6% in FY22
- Digital Revenue Market Share of 24.5%3 versus 24.9% in FY22
The report also reveals Queensland is the best performing TAB state after the implementation of a Level Playing Field on 1st December 2022.
Tabcorp Managing Director and CEO Adam Rytenskild said:
“After the first year of our three-year transformation, we have increased total revenue market share and seen a stabilization in our digital market share. We delivered increased digital turnover share and racing revenue market share, while 4Q23 sport yields relative to competitors negatively impacted our sport and total digital revenue market share.
Tabcorp FY23 Report Reveals a 2.4% Increase in Revenues Tabcorp FY23 Report Reveals a 2.4% Increase in Revenues
Global gambling statistics list Australia as the fifth largest gambling market in the world in terms of revenue with AU$16.9 billion ($10.9 billion/€10.1 billion) reported in 2022. This means that Tabcorp’s latest report shows that the company generates roughly 14% of all gambling revenue in Australia.
