Games News

Tabcorp Reveals 5% Market Share Growth; Exceeds FY23 Predictions

Tabcorp, a flagship Australian gambling company/provider of betting and gaming products and services based in Melbourne, stake rose over 5% on Thursday following a report of net income $66.5 million after tax, surpassing consensus forecasts and rising share of total income for FY23 from 33.6% to 34.6%. Speaking on the matter, the company said: “We are turning around a long-term slide in market share and has killed a culture of rewarding under-performance, but we can’t provide detailed earnings guidance while we wait on the outcome of the Victorian wagering licence process.”

Retail sales as the main source of growth:

The growth was caused by a strong increase in retail sales, which was additionally caused by the reo…