F.y. Profits Fall At Aussie Gambling Group

By Brian Cullingworth, Last updated Aug 22, 2014

Tatts sees net profit after tax decline 19 percent

One of Australia's leading online and land betting groups, Tatts, has posted full year results that will be disappointing for shareholders, reporting a 19 percent y-o-y drop in net after tax profits for the twelve months ended June 30 2014.
Talking points in the firm's report include:
* Net profit after tax down 19 percent at A$200.4 million;
* Revenue down 2.8 percent at A$2.9 billion;
* Good lottery growth, with a 7.8 percent rise in profit before tax of A$326.6 million;
* EBITDA up 2.1 percent to A$414.5 million;
* Online sports bets generated 22.9 percent of total sales (20.2 percent in FY 2013);
* Gaming income improved, contributing A$51.3 million to EBIT;
* Sports wagering declined 7.4 percent to A$144.1 million, but Tatts secured retail exclusivity for QLD Racing and Sports until 2044.
Chief executive Rob Cooke said that the preceding year had been a hard act to follow due to exceptional lottery performance, and that the latest results were adversely impacted by a A$42.6 million health benefit levy charged by the Victorian provincial government, which undermined net profits.
Cooke added that the group has exciting initiatives in the pipeline, and is well positioned for the year ahead, with trading strong in the opening months of lottery and wagering operations.

Online Casino News Courtesy of Infopowa

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.


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