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Tabcorp expects higher earnings

27 Nov 2006

AUSTRALIA – As reported by the Age: "Australia's biggest gaming firm Tabcorp Holdings Ltd expects earnings in the second half of this year to rise, after a flat first half.

"Managing director Matthew Slatter said earnings would be flat in first half because of higher than anticipated operating costs in the company's wagering division, stemming mainly from maintaining customer services levels through the Spring Racing Carnival, which required more resources.

"…Mr Slatter said Tabcorp would be focussing on efficiencies and cutting costs and would accelerate its cost cutting program.

"…He said momentum in the gaming operations had improved in recent weeks despite revenue only rising 2.3 per cent to November 18.

"Mr Slatter said the wagering business was looking very good so far this year…"

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