Tabcorp targets a 30 percent digital revenue market share

Finance News

Tabcorp is transforming its entire wagering ecosystem as it targets a 30 percent digital revenue market share.

The company unveiled the plans in its half-year results last week, with managing director and CEO Adam Rytenskild stating the company is “very clear on what winning looks like – It’s TAB25.”

It will be delivered across “a journey of six halves of which H1 23 is the first” with plans to release more details to the market on TAB25 this coming May at its investor day.

“We’re targeting 30 percent digital revenue market share, and we think this is a very achievable goal,” Rytenskild said.

“I’m personally driving the company to beat this target.”

Tabcorp is also targeting a reduction in operating costs to between $600 million and $620 million in FY25 under an acceleration of its Genesis transformation program, a cost-out exercise.

Since demerging from The Lottery Corporation Rytenskild said Tabcorp is now positioned to create a new operating model.

“We’re creating a simpler and leaner organisation that allows us to deliver faster outcomes for customers, and be more effective in the way we work,” he said.

Rytenskild said the cost-out will allow for financial headroom to invest more in customers, “including product, branding, and potential future investment opportunities. This will in turn help us grow market share.”

He added its new operating model encompasses one of the six pillars of Genesis and “will allow the business to be more efficient”.