Tabcorp Holdings Ltd
ASX:TAH
Tabcorp Holdings Ltd
Tabcorp Holdings Ltd. engages in the provision of entertainment services. The company is headquartered in Melbourne, Victoria. The firm operates its business through three segments: Lotteries and Keno, Wagering and Media, and Gaming Services. Lotteries and Keno business segment is a lottery operator with licenses to operate in certain Australian states and territories. Wagering and Media segment provides totalizator and fixed odds betting and retail wagering networks, and global racing media business. Gaming Services segment includes game machine monitoring operations in New South Wales, Queensland and the Northern Territory and venue services nationwide. The company operates through various brands, including Set for Life, Powerball, Oz Lotto, TattsLotto, Saturday Lotto, Gold Lotto, X Lotto, Monday and Wednesday Lotto, Lucky Lotteries, Lotto Strike, Super 66, Keno and Instant Scratch-Its.
Tabcorp Holdings Ltd. engages in the provision of entertainment services. The company is headquartered in Melbourne, Victoria. The firm operates its business through three segments: Lotteries and Keno, Wagering and Media, and Gaming Services. Lotteries and Keno business segment is a lottery operator with licenses to operate in certain Australian states and territories. Wagering and Media segment provides totalizator and fixed odds betting and retail wagering networks, and global racing media business. Gaming Services segment includes game machine monitoring operations in New South Wales, Queensland and the Northern Territory and venue services nationwide. The company operates through various brands, including Set for Life, Powerball, Oz Lotto, TattsLotto, Saturday Lotto, Gold Lotto, X Lotto, Monday and Wednesday Lotto, Lucky Lotteries, Lotto Strike, Super 66, Keno and Instant Scratch-Its.
Earnings Growth: Tabcorp delivered 14.3% EBITDA growth to $279.4 million, with 18.9% EBIT growth and a 61.5% increase in NPAT before items.
Turnover Trends: Overall turnover grew modestly by 0.3%, with racing weaker than sports but strong performance among 18-24 year olds, up 14%.
Cost Reductions: Operating expenses fell 1.1% and CapEx halved to $51 million, with a 190 basis point improvement in EBITDA margin to 16.2%.
Balance Sheet Strength: Leverage ratio reduced to 1.5x net debt to EBITDA, providing flexibility for investment.
Retail & Digital: Growth in digital and venue turnover (up 12%), with sports turnover up 26% and plans to roll out new betting terminals from July.
Guidance: Turnover environment expected to remain similar in the second half; CapEx guidance for FY26 held at $120–140 million.
Dividend: Interim dividend of $0.015 per share, up 50% on the previous period, representing a 56% payout ratio.
