Q4 results show Tabcorp becoming ‘a more digital business’

Tabcorp has shared its financial report for the six-month period ending December 31, 2023 – 1H24.

Group revenue was $1,210m, down five per cent on 1H23, with a group statutory net loss after tax of $636.8m, including a non-cash impairment charge of $731.9m.

Group EBITDA was $170m, down 14% against 1H23.

“We continue to focus on the three pillars of our strategy. Invest in customer and competitiveness to win back the Australian market, level the playing field for fees, taxes and regulation and reshape our cost base for efficiency and growth,” said managing director and CEO Adam Rytenskild.

“Total market share and digital market share grew compared to the prior half. This is another positive step having stopped the decline. We are seeing positive signs from targeted investment in product, brand, data, technology and retail as we start to leverage the strength of an extensive integrated wagering and media network throughout the country.

“We have become a more digital business, underpinned by recent investments in AI, data and new technology platforms. Combined with our TAB brand embedded in over 4,