Australia
Tabcorp Revenue Declines 5.7% During Three Months to September 2020
Australia’s Tabcorp has reported a 5.7% decline in revenue for the three months to September 2020.
The trading update formed part of an investor presentation at the company’s AGM, with Managing Director and CEO David Attenborough revealing the slight 5.7% decline was mainly felt in its Gaming Services segment which fell 55.2% on the closure of licensed venues. Lotteries and Keno revenue was down 6.9% year-on-year with Wagering and Media down 2.9%.
“The duration and severity of COVID-19 is unclear, however Tabcorp remains well placed with our resilient, diversified earnings base and strengthened balance sheet,” Attenborough said.
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