Tatts Releases 2011 Fiscal Results

This story was published more than 8 years ago.

Australian betting group Tatts has released its 2011 fiscal results, highlighting a 16% jump in net profits which totaled A$319.1 million for the year.

The jump in profits is being mainly attributed to the company's growing lottery business (which was up 15.8% to A$202.6 million) and wagering (which jumped to A$136.3 million. Revenues for the year topped A$650.2 million.

Tatt's will see a drop off this coming year however, with the cessation of its pokies business taking place during the 2012/2013 year. The company had its pokies license stripped by officials in Victoria in 2008 and is currently in court against the province.

A company statement regarding the dropping of pokies said: "Importantly, Tatts Pokies will exit the company with a small contribution and not drag on profits generated elsewhere as a result of redundancy costs."

Industry analysts predict that the company could earn A$590 million next year with profits in the A$210 million range.

About the author

Jeremy Wilson // Senior Editor
Jeremy Wilson
Jeremy has senior editorial responsibilities across all areas of the site. He lives in Sydney, Australia and has been working with Casino Listings in various roles since its inception in 2007. His go-to game is Blackjack.