Tabcorp reported a 5.1% decrease in revenue for the six months ending on December 31st, totaling $1.21bn. The company incurred heavy losses due to increased operating costs and impairment charges, with $852.0m attributed to impairment charges, including $639.2m for certain assets in NSW and South Australia and $212.8m for goodwill.
Despite the losses, Tabcorp received positive news in the form of an $83m tax refund and a 20-year license extension in Victoria. The company remains optimistic about future growth and transformation, focusing on investment in customer competitiveness and reshaping its cost base for efficiency and growth.
Revenue declined in Tabcorp’s core business segments, with wagering and media revenue down 4.2% year-on-year and revenue from gaming services decreasing by 14.5%. Operating costs were 16.5% higher in H1, leading to a net loss of $641.7m for the period.
