Tabcorp says lotteries demerger calls total nonsense

Original article by James Thomson
The Australian Financial Review – Page: 15 : 15-Aug-19

Gambling company Tabcorp released its 2018-19 full year results, reporting an underlying net profit of $397.6 million, up 42.5 per cent. It was the first full-year results released by Tabcorp since its $11 billion merger with Tatts Group, with Tabcorp’s lotteries division reporting a 29 per cent increase in EBITDA to $509 million. However, its wagering and media division saw its EBITDA fall 7.9 per cent to $416 million. Commenting on calls for Tabcorp to demerge its lotteries business, CEO David Attenborough said there were no plans to do so.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED, PERPETUAL LIMITED – ASX PPT

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