Tatts Group profit rises thanks to “exceptionally strong online traction”

Australian wagering and lottery operator Tatts Group boosted its profits by over 5% in the first half of its fiscal year thanks to “exceptionally strong online traction.”

In the six months ending Dec. 31, Tatts revenue was up 6.5% to A$1.6b while net profit after tax gained 5.2% to $147m. Tatts credited the uptick to an online performance that was “nothing short of outstanding.”

Tatts’ mainstay lottery operations posted record revenue of $1.11b, up 9.6% year-on-year, thanks in part to 24 jackpots over the psychological $15m barrier, six more than the same period a year earlier. Online lottery sales were up nearly 35%, accounting for 13.2% of all lottery sales, compared to just 10.8% a year ago.

Tatts’ wagering division reported turnover up 3% to $2.14b but revenue fell 4% to $326m thanks to a string of favorites living up to their reputations. Here too, online wagering enjoyed significant gains, with turnover up 20.2% to an all-time high. Digital wagers accounted for 28.8% of overall turnover, up from 24.8% a year ago.