Tabcorp posts $66.5m profit after demerger, says market share rising

Tabcorp says it is growing its market share against aggressive overseas firmsTabcorp has posted a $66.5 million net profit after tax in its first year after the demerger of its lotteries and Keno business, as a growing wagering business offset softer market conditions.

“Our total revenue market share grew, highlighting the strength of our wagering ecosystem”: Tabcorp boss Adam Rytenskild.as customers abandon in-person wagering and instead place bets online. On a pro forma basis, Tabcorp reported a 2 per cent increase in group revenue to $2.4 billion. EBITDA climbed 8 per cent to $391 million when taking out the earnings from the lotteries segment last year.Net profit after tax was $66.5 million, impacted by a $49 million non-cash impairment of $49 million related to the gaming services business.

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