Tabcorp saw its revenues climb in the last half of 2017, but still reported a net loss after income tax of AU $20.8 million for the year.
Tabcorp saw an 18.7 percent increase in revenue for the second half of 2017, bringing in AU$ 1.38 billion. That includes AU$ 176.3 million in revenue for the 18 days it was combined with Tatts Group in December.
This year’s result was adversely impacted, however, by significant items after tax of AU $199.7 million according to a report at CDC Gaming Reports.
“FY17 was a strategically important year for Tabcorp,” said Chairman Paula Dwyer in a press statement. “Going into FY18 Tabcorp is better positioned to deliver long-term value for our shareholders and business partners. In October 2016, we reached agreement with Tatts Group to combine our two businesses to create a world-class diversified gambling entertainment business. The Boards of both companies expect the combination to deliver material benefits, not only for Tabcorp and Tatts shareholders, but for our stakeholders including the racing industry, business partners, employees, customers and governments.
