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Tabcorp's profit fell 14% despite revenue growth, hurt by sports event payouts, but youth engagement and strategic shifts boosted investor confidence.
Tabcorp reported a 14% drop in first-half net profit to $21.7 million despite a 1% revenue increase, citing $10 million in lost revenue from customer-friendly outcomes during major sporting events.
Domestic wagering revenue fell 2.5% before Victorian licensing impacts, but the company saw a 14% rise in turnover among 18- to 24-year-olds, driven by investments in Liv Golf and the US Super Bowl.
Strong cost management and business diversification supported a 16% increase in wagering and media earnings.
The company declared a 50% higher interim dividend and saw its shares rise nearly 16%, reflecting investor confidence in its strategic shift toward a youthful, sports-focused, and experiential brand.
Las ganancias de Tabcorp cayeron un 14% a pesar del crecimiento de los ingresos, afectadas por los pagos de eventos deportivos, pero el compromiso de los jóvenes y los cambios estratégicos impulsaron la confianza de los inversores.