Robbie Cooke, chief executive and managing director of Tatts Group, has cited a record performance by the Australian gambling company’s lotteries business as the main driving force behind year-on-year growth in the first half of the 2016 financial year.
Overall revenue and other income amounted to Aus$1.6bn (€1bn/$1.1bn) in the first six months of the financial year, which represented an increase of 6.5 per cent on the Aus$1.5bn achieved in the corresponding period of the previous year.
“A huge effort has been made by the talented team here at Tatts over the last few years, focusing on improving our customers’ digital journey, being more effective in our online marketing actions and communicating with our online audience in a most timely and relevant way,” Cooke said.
“The star performer in the half was our lotteries operation – it delivered record-breaking performances at all levels. Revenues were at an all time high at $1.11bn, up 9.6 per cent on the same period last year.
“The result was fuelled by an exceptional jackpot run in the six months with 24 jackpots hitting the influential $15m or more mark.”
Earnings before interest, tax, depreciation and amortisation (EBITDA) improved slightly to Aus$276.6m, while earnings before interest and tax grew 1.1 per cent to Aus$233.6m.
In November, a proposed merger of Tatts and gaming operator Tabcorp fell through.The merger would have created a Aus$9.4bn combined entity.