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The results from H2-2013 indicates a rise of 13.6 per cent in digital operations, resulting from mobile operations
The contributions of mobile gambling were the main point of the Tabcorps H2-2013 and FY results and were released on Friday. Digital wagering turnover increased by 13.6 per cent to A$2.45 billion over the financial year 2012/13, with good results also delivered by fixed odds betting.
We are witnessing is that classical desktop computers are used less, while there was an increase in use of mobile phones and tablets as the habits of people change, David Attenborough, the chief executive of Tabcorp, said.
According to Tabcorp, its Android, iPad and TAB iPhone applications, which have been downloaded by people 900,000 times and more, during this year were upgraded.
The world-first application introduced by the company allowed a customer to observe or bet on a race, doing both from the same screen of a tablet.
According to Attenborough, strengthening the customers offering of Tabcorp in the sector of digital wagering would be the fiscal year 2014s main focus.
The desire of Tabcorp was also to enhance its business of kenos lotteries via self-service and product expansion and strengthening poker machine services offering by expanding into NSW.
The reported net profit of the company for the 2012/2013 financial year as of A$127 million. This marks a reduction of 63 per cent when compared with the prior years A$340 million profit. However, the management was quick to explain that these numbers were affected by the August 2012 expiry of the duopoly license shared by Tabcorp with the Tatts Group, its rival, to operate machines for poker in Victoria.
The numbers of the company were also affected by the Victorian wagering and betting license of Tabcorp and the changes introduced to it under which it is now able to share more proceeds with the racing industry of Victoria.
Following the expiry of its license on the 15th of August, 2012, the Victorian Tabaret gaming business had been decommissioned, and it impacted the company, which suffered losses of A$21 million from discontinued operations.
EBITDA resulting from continuous operations was up by 9.5 per cent, reaching A$463.9 million.
FY2013 was a successful one for Tabcorp, and the company has been able to significantly change its business portfolio and navigate challenging conditions for external trading, said Attenborough.
FY2013 turned out to be the new Victorian license structure for wagering and gambling, and we all knew that it will impact the operational earnings of Tabcorp. We successfully managed the transition process and our sharp focus and revenue initiatives on expense management resulted in strong EBITDA growth.
We have also extended our licence via the in-principle agreement. It allowed us to exclusively extend our NSW retail wagering to the year 2033 and to extend our Queensland Keno license to the year 2047.
During FY2014 our key focus will be to further improve our customer offering in the competitive and fact growing sector of digital wagering.