The total profit in December for Tab NZ’s betting business reached NZ$16.1m (£8.0m/€9.5m/US$10.8m), surpassing the budgeted amount by 11.8%. Wagering turnover exceeded budget forecasts by 10.3%, reaching $241.6m, and gross betting revenue totaled $38.1m, surpassing the budget by 7.7%. The busy Christmas period of racing, including the Boxing Day race meetings at Ellerslie, contributed significantly to these results, generating $19.4m in turnover alone. The Cambridge Stud Zabeel Classic, held on Boxing Day, had the highest turnover with $919,000.
In terms of sports, the Ashes series between Australia and England dominated December’s turnover, with the second test drawing $786,000, the first test $476,000, and the third test $427,000. However, gaming profit fell below budget, reaching $1.6m instead of the expected $1.9m. Operating expenses for the month were $200,000 less than budgeted, totaling $9.9m.
During the five-month period ending in December, total profit aligned with budget expectations at $67.8m. Betting profit exceeded expectations by $4.6m at $63.1m, while gaming was $4.6m below budget at $4.7m. Racing codes received $74.0m in distributions during this period, which was $3.4m higher than budgeted.
