Profits rise 13 percent with a solid contribution from online sports betting division
Tatts Group, an online and land betting group based in Australia, reports that its online betting services made a healthy contribution to a solid group performance in fiscal 2014, helping the company to achieve an increase in profits of 13 percent to A$255.6 million.
For the year ended June 30 2015, the group reported that revenue rose 1.8 percent to A$2.9 billion, and earnings performed along similar lines, reaching A$507.4 million.
The company noted that the improvements were all the more remarkable due to the extensive re-branding exercise to the Ubet corporate brand, which it claims has been a success
Whilst betting revenue across the group was down 1.5 percent at A$633 million, online wagering revenue increased by 12.5 percent, bringing the proportion of revenue that the group accrues through its digital operations to 25.7 percent… a 2.8 percent year-on-year rise.
Among the impressive digital achievements during the reporting period is the fact that the digital division products were downloaded to 735,000 mobile devices.
Online lottery sales in the digital division rose sharply 20.9 percent over the year, again increasing the group's digital contribution in the sector by almost 2 percent to 11.1 percent
Group chief executive Robbie Cooke revealed that Ubet is field-testing an innovative in-venue in-play betting module branded Ubet Live.
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