Tag: TAH

Gambling group Tabcorp (TAH) has lifted its full year profit 3%, despite a slide in revenue, but is forecasting a small lift in dividends in the 2015 financial year.

Australians don’t seem to be gambling as much, judging by the interim results of Echo Entertainment (EGP) on Wednesday and its former stablemate, Tabcorp (TAH), yesterday.

Gambling giant Tabcorp Holdings yesterday has reported a 5.4% rise in normalised net revenue for the March quarter.

Gaming company Tabcorp Holdings has posted half-year net profit up 2.9% on the first half of 2009-10.

So, expect Tabcorp Holdings to come under speculative pressure from punters tipping some corporate action after yesterday’s big announcement of a demerger, capital raising and the departure of the CEO.

So much for the idea that gambling is a recession-proof industry; it hasn’t been in the US where many casinos have collapsed and yesterday industry giant Tabcorp revealed results that confirm it wasn’t in the year to June 30, with sluggish spenders and more intense competition cutting into the profit line.

The market was undecided about Tabcorp’s interim profit.

Amid all the hoopla around BHP Billiton, China and Rio, it's been a miserable start to the 2008 year for gaming giant, Tabcorp.

The big sell is happening at Tabcorp, which has just lost a CEO, and is about to lose a chairman and at least one other director.

The hatches have been battened; the gate bolted after the horse has gone and the strategy is changing at Tabcorp, but changing one would feel, all too late.