Tabcorp 1HFY22 wagering performance impacted by retail closures

Australia-listed Tabcorp said its wagering arm was heavily impacted by Covid-19 related retail closures and increased digital marketing and promotional spending during the six months ended December 31, 2022.

Revenue from its Wagering & Media arm fell 9.8 percent year-on-year to A$1.1 billion, down from A$1.2 billion in the prior year period. EBITDA fell 34.8 percent to A$148 million.

Tabcorp said the results were heavily impacted by retail closures in its largest market, NSW, which impacted wagering and media subscription revenues.

Source: https://agbrief.com/news/australia/21/02/2022/tabcorp-1hfy22-wagering-performance-impacted-by-retail-closures/