Tabcorp Holdings Limited
(ASX:TAH) lifted its first quarter revenue by 2.9 per cent to $489 million.
The gaming company’s standout performers include new initiatives such as its Victorian Keno business and Tabcorp gaming solutions.
Tabcorp’s wagering operations however recorded a 2.4 per cent drop in first quarter revenue from this time last year, totalling $385 million.
The company attributed the fall to new terms associated with its Victorian wagering and betting license.
The share of wagering profits with the Victorian racing industry has fallen from 75 per cent to a 50:50 share.
CEO David Attenborough says the company has started the current financial year well and its strategies and investments in expansion initiatives continue to deliver improved revenue.
Tabcorp posted a net profit of $340 million for the 2012 financial year.
