Monday 8. August, 2016

Tabcorp Reports Profit Drop Due to Sun Bets Launch

Australia’s leading wagering company, Tabcorp, has reported a 49 percent drop in annual profits to AU$169.7 million, which it has largely attributed to costs of the launch of its new online wagering business in the UK, Sun Bets. Despite this, the company is expecting a boost from their new UK venture, together with their new TAB app.

Sun Bets launched this week in time for the start of the English Premier League season. Tabcorp reported AU$14.4 million in expenditure setting up the business with News Corp’s UK division. In addition, Tabcorp reported it spent AU$13.6 million in legal costs for its defense against allegations by Australia’s anti-money laundering regulator, AUSTRAC.

Excluding the one-off expenses, Tabcorp saw an 8.5 percent increase in annual underlying profits, which it attributed primarily to its strong keno business and growing digital wagering division. The company is expecting the Sun Bets business to contribute significantly to its business success.

“Recent initiatives such as the proposed acquisition of Intecq and the launch of Sun Bets further strengthen and diversify our operations,” commented David Attenborough, chief executive of Tabcorp.

“Sun Bets is an exciting opportunity for Tabcorp to take its market leading wagering capabilities into the AU$7 billion UK online gambling market.”

While Tabcorp has not intimated what it expects revenue or earnings from Sun Bets to be, Mr Attenborough did say that the business will only need to capture 1.5 percent of market share in order to break even.

The release of Tabcorp’s new TAB app, in time for the Spring racing carnival and NRL and AFL finals, is also expected to boost their growth in the coming year. The company’s mobile platform represents 65 percent of turnover for the company.


All new Australian players get 130 free spins and bonuses up to €1000 on the first three deposits.


Get 30 free spins and 4 welcome bonuses to a total value of $1400 as a new Australian customer!


New Australian players get 35 free spins on Spiñata Grande and a 100% welcome bonus up to $200!

400% BONUS

As a new Australian customer, deposit €100 and you will get €500 to play for!


Get a €10 exclusive bonus on your first depost and get 10% top-up on your winnings or 10% cashback on your losses the first week.


Get 50% of the deposit you make in free spins! Deposit $400 in order to get 200 free spins! Also, 100% bonus on your first deposit!

$500 BONUS

Join All Australian Casino and get a 100% bonus up to $500 as a new Australian customer!


As a new Australian player, you get 50 free spins and a 200% welcome bonus!


Get up to $1000 in bonus on your first four deposits. Also, 180 free spins to all new Australian players!


Get 100 free spins on Starburst and a first deposit bonus worth up to $400 as a new Australian player!

PokiesPedia was last updated:
April 16, 2017

Receive 100 Free Spins Now!

Receive 100 Free Spins Now!

Join our mailing list to receive 100 free spins instantly and the best bonus offers for Australians!

You have Successfully Subscribed!