Tabcorp posts revenue increase amid money laundering charges

Tabcorp’s year-to-date revenue rises 1.9% to $1.65 billion, boosted by moderate surges from its wagering and Keno business.

In an announcement to the Australian Securities Exchange, Tabcorp Managing Director and CEO David Attenborough said the company’s revenue for its wagering and media unit rose 1% to $1.4 billion in the nine months ending March 31.

Wagering & media revenues for 3Q16 were $442.8 million, up 0.5% while wagering turnover grew more than 3.1% to $3 billion.  The difference in turnover was impacted by favorable results for customers, particularly on the major race meetings in March.

Tabcorp also remains the official wagering partner of the Victoria Racing Club (VRC), after it extended its sponsorship agreement a further eight years until 2024.