Tabcorp's (ASX:TAH) Q1 revenue slides 5.7%

Company News

by Anna Napoli

Gambling group Tabcorp’s (ASX:TAH) first quarter revenue fell 5.7 per cent (unaudited) compared to the same period last year.

Revenues in the lotteries and keno business were down 6.9 per cent on the prior period, while wagering and media revenues were up 2.9 per cent despite the decline in retail and reduced net yields.

Gaming Services revenues were down 55.2 per cent on the pcp, impacted by the closure of licensed venues, particularly in Victoria.

Tabcorp says The duration and severity of COVID-19 is unclear, however it remains well placed with its resilient, diversified earnings base and strengthened balance sheet.

Shares in Tabcorp (ASX:TAH) are trading 0.88 per cent lower at $3.38.