Tabcorp’s revenue up 2.7%

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Wagering and gaming firm Tabcorp Holdings’ revenue for the first three months of the 2011/12 financial year rose by 2.7 per cent compared to the same period last year.

Tabcorp said on Wednesday that all of the company’s four divisions – wagering, media and international, gaming, and keno – had generated more revenue.

“The continued revenue growth in Tabcorp’s four divisions demonstrates that the investments to grow the business in each of its respective markets are being well executed,” chief executive David Attenborough said in a statement.

“The strength of our brands and the strategies we have in place are translating into revenue growth, despite the difficult trading conditions that many companies are experiencing.”

Revenue in the three months to September 30 totalled $759.4 million, up from $739.7 million in the prior corresponding period.

Growth in fixed-odds racing and the introduction in NSW of the animated horse-racing game, Trackside, underpinned a two per cent rise in revenue in the company’s wagering division to $394.1 million.

Gaming revenue in the three months to September was $285.2 million, up two per cent.

Keno revenue of $45.8 million was up 6.9 per cent after self-service terminals were rolled out.

The media and international division, which includes the Sky Racing business, generated revenue of $46.6 million, up 4.7 per cent.

Tabcorp shares were 11 cents, or 4.23 per cent, higher at $2.71 on Wednesday.