Tabcorp Holdings Limited is a leading Australian company specializing in gambling, entertainment, and integrity services, operating primarily in the wagering and media sectors.

Higher wagering revenues and lower costs have helped Tabcorp deliver a 26 per cent jump in profit for the first half of the year, the first time it has met expectations since it demerged its lotteries business three years ago

In its recent half-year financial report, the company announced a significant turnaround, achieving a net profit of $25.3 million compared to a loss in the previous corresponding period. This improvement was driven by a 10.1% increase in revenue, reaching $1,331.3 million, and strategic cost management initiatives.

Key highlights include a 12% increase in EBITDA to $190.2 million, as well as the successful transition to a new Victorian Wagering and Betting Licence which contributed to a marked improvement in profitability. Looking ahead, Tabcorp’s management remains focused on leveraging its strong balance sheet and diverse funding sources to drive growth and maintain competitiveness in the industry.