Tabcorp hopes punters have a spring in their step
Speaking on Tuesday at the launch of the company's spring racing carnival campaign, which will result in 25 per cent of its annual turnover being booked over only 65 days of racing, Mr Attenborough said punters had been feeling more positive recently.
"Certainly we expect things to pick up after the election now that that's over, we are certainly seeing people be a lot more positive," he said. "We are a discretionary spend company and you would certainly expect to see that come through into the numbers."
Tabcorp is expected to provide an earnings update and first quarter trading performance next week.
The spring racing carnival is a crucial earnings period for Tabcorp. Last year NSW and Victorian TAB racing turnover hit $2.1 billion for the carnival with $184 million plunged on Melbourne Cup day.
For the race that stops a nation, on the first Tuesday in November, Tabcorp is expected to book 2000 transactions a second and a total of 50 million transactions for the day, Mr Attenborough said.
He said Tabcorp's IT infrastructure was now on "lock-down mode" as it prepares for the massive betting plunge by Australians and overseas punters throughout the carnival but especially on the Melbourne Cup.
Although still two-thirds of its wagering activity is conducted in cash transactions over the counter at neighbourhood TABs, a growing component, roughly one-third, is now online. Of the online betting activity 43 per cent is from hand-held devices such as mobile phones.
Mr Attenborough said he expected offshore online bookmakers to be as competitive as ever this year.
Frequently Asked Questions about this Article…
Tabcorp says the spring racing carnival is a crucial earnings period: about 25% of its annual turnover is booked over just 65 days. Last year NSW and Victorian TAB racing turnover for the carnival reached $2.1 billion, with $184 million plunged on Melbourne Cup day.
Tabcorp expects huge activity on Melbourne Cup day — around 2,000 transactions a second and about 50 million transactions for the day — so its IT infrastructure is on “lock‑down mode” to handle the massive betting plunge by local and overseas punters.
Tabcorp is expected to provide an earnings update and first‑quarter trading performance next week, according to the company comments in the article.
Around two‑thirds of Tabcorp's wagering activity is still cash over the counter at neighbourhood TABs, while roughly one‑third is now online. Of that online activity, about 43% comes from hand‑held devices such as mobile phones.
Tabcorp's boss David Attenborough said punters have been feeling more positive since the recent change in government and he expects activity to pick up after the election. As a discretionary‑spend company, Tabcorp expects that improved sentiment to flow through into its numbers.
Yes. Mr Attenborough said he expects offshore online bookmakers to be as competitive as ever this year, which is an important consideration for Tabcorp's online betting environment.
When Tabcorp refers to a standard CPI‑indexed lift, the company is signalling it expects turnover to rise roughly in line with inflation (CPI) heading into the Melbourne Cup, rather than forecasting a large above‑inflation surge.
About 43% of Tabcorp's online betting is placed via hand‑held devices like mobile phones. For investors, that highlights a growing digital channel that can drive convenience, transaction volume during peak events, and potential margin shifts compared with over‑the‑counter cash bets.
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