Australian gaming company Tabcorp has announced its full-year 2021 financials, revealing that revenues jumped 8.8% to $5.68 billion.
Key financial indicators for the year were:
- Wagering and media revenues of $2.3 billion
- Lottery and Keno revenues of $3.2 billion, up 10% from the year prior
- Gaming services revenues dropped 17% to $183 million
- EBITDA was $1.1 billion, up 11% from last year
- Net profit after tax was $269 million, up from a loss of $870 million last year
- Taxes, levies, and payments of $4.2 billion
The results come as Tabcorp prepares to de-merge its lottery and keno business, which will immediately impact the group's bottom line.
Regarding the results Tabcorp Chairman Steven Gregg said, "This was a record profit result, driven by well executed game changes, effective marketing and continued focus on the customer experience and digital innovation.
"As you can imagine, light entertainment has become even more important for many Australians. We saw this in our customer numbers, with active registered customers rising to 3.8 million players.
"Unlike newsagents and fuel/convenience which could trade in times of COVID-19 restrictions, hotels, clubs and TAB agencies had to shut their doors for extended periods. Nonetheless, it was pleasing to see strong revenue growth across each of the three lines of business - wagering, media and international."