Gaming company Tabcorp reported a net profit of $127 million for the 2012/13 financial year. Source: AAP
BETTING via smart phones and other mobile devices continues to grow dramatically, says wagering, keno and gaming machine services firm Tabcorp Holdings.
Tabcorp on Friday said its digital wagering turnover grew 13.6 per cent to $2.45 billion over the 2012/13 financial year, mostly driven by mobile transactions and the expansion of fixed-odds betting.
Mobile betting accounted for 43 per cent of Tabcorp's digital turnover in the second half of fiscal 2013 - up from 28 per cent in the first half.
"What we're seeing is less usage of on-line classical desktop computers and more usage of tablets and mobile phones as people's habits change," Tabcorp chief executive David Attenborough said.
Tabcorp said its TAB iPhone, iPad and Android apps, which have been downloaded more than 900,000 times, were upgraded during the year.
The company had introduced a "world-first" app enabling a customer to watch a race and bet on it, on the same tablet screen.
Mr Attenborough said strengthening Tabcorp's offerings to customers in the digital wagering sector would be a key focus in fiscal 2014.
Tabcorp also aimed to enhance its kenos lotteries business through product and self-service expansion and strengthen its poker machine services business by initial expansion into NSW.
The company reported a net profit of $127 million for the 2012/13 financial year, down 63 per cent on the profit of $340 million in the prior year.
But the result was skewed by the expiry in August 2012 of the duopoly licence Tabcorp shared with rival Tatts Group to operate poker machines in Victoria.
It was also affected by changes to Tabcorp's Victorian wagering and betting licence under which it now shares more proceeds with the Victorian racing industry.
In addition, Tabcorp recorded an $18.6 million impairment charge on its Victorian keno licence due to slower-than-anticipated take-up by customers.
Mr Attenborough said that despite the fall in headline profit, it had been a successful year for the company as it repositioned its businesses.
But subdued trading conditions in the fourth quarter of the 2012/13 financial year had affected all of the company's businesses.
Mr Attenborough said that while the current state of the economy presented challenges, he was confident in the outlook for the next 12 months.
Shares in Tabcorp were 10.5 cents, or 3.12 per cent, lower at $3.255 at 1253 AEST on Friday.
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