Will Tabcorp Holdings (ASX: TAH) benefit from increased overseas arrival and payroll jobs?

Mon 18 Mar 24, 07:58 AM | Team Kalkine

Image source: © Asolano97 | Megapixl.com

Highlights

Tabcorp Holdings operates two segments, wagering and media, and gaming services

In 1HFY24, the company registered 5.1% YoY decline in revenue to AUD 1,210 million

In FY24, the company expects to spend AUD 150mn on CAPEX

Australia-based Tabcorp Holdings Limited (ASX: TAH) is an entertainment and gambling corporation. The company operates two segments, gaming services and wagering and media. The wagering and media segment offers customised and fixed odds betting, worldwide racing media enterprises and retail wagering networks.

In the first half of the financial year (1HFY24), the company saw 5.1% YoY decrease in its revenue to AUD 1,210 million. During the reported period, EBITDA stood at AUD 170 million, compared to AUD 197 million in previous corresponding period, while NPAT reached AUD 18 million, compared to AUD 47 million in previous corresponding period. In 1HFY24, tab total revenue market share was 33.7%, compared to 32.9% in 1HFY23.

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