February’s financial results showed a decrease of 1.2% year-on-year and were 2.3% below budget. Gross betting revenue for the month was NZ$30.1m, marking a 24.7% decrease from January. However, there was a 1.1% increase in revenue compared to the previous year. The profit for February was NZ$11.3m, representing a 36.5% decrease from the previous month but a 9.7% increase from February 2021, falling NZ$200,000 short of the budget.
Betting profit accounted for NZ$10.1m of the total profit, exceeding the budget by NZ$400,000. Meanwhile, gaming profit contributed NZ$1.2m, which was NZ$600,000 under budget. The year-to-date profit totaled NZ$96.9m, down 7.5% year-on-year and NZ$800,000 below budget.
Operating expenses for the month decreased by $900,000 compared to January, amounting to NZ$9m. This also represented a decrease of NZ$600,000 year-on-year. The top-performing day for horseracing turnover was the Herbie Dyke Stakes at Te Rapa, generating NZ$538,000. The AJC Avondale Guineas at Ellerslie followed with NZ$537,000 in turnover, while the Mainland 1600 at Ellerslie saw turnover of NZ$368,000. In sports, Super Bowl LVI led with NZ$754,000 in turnover, followed by the MMA fight between Israel Adesanya and Robert Whittaker with NZ$546,000, and the rugby union match between the Highlanders and the Crusaders with NZ$346,000 in turnover.
