Tabcorp H1 Results Dip

Tabcorp the Australian gaming company has announced its first-half results for 2020/2021 showing a drop of 2% in revenues for the period compare to last year to A$2.8 billion.

The companies net profits were down 7% to A$185 million after tax compared to A$199 million in 2019/2020.

Tabcorp which has received an offer to acquire the company by UK based Entain for around £5.6 billion has yet to respond to the bid by the online gaming company.

However David Attenborough said on the latest figures:  “The COVID-19 pandemic continued to impact Tabcorp’s group earnings in H121, with the retail closures and restrictions, especially in Victoria, having a material impact.“ He continued by saying.”COVID-19 has clearly demonstrated the importance of serving customers with a seamless, multi-channel experience.” 

 “All three businesses are well positioned for the second half and we will continue to unlock digital growth, drive operational improvements and optimise costs,” Attenborough in closing. “We are committed to working with our industry partners to help them recover from the disruption COVID-19 has had on their operations. We are also committed to helping our industry partners reconnect with their customers and reinvigorate venues and racetracks across Australia.”