Tabcorp Expects Profit of $350 Million

29 Aug 2005

AUSTRALIA – As reported by the Gaming giant Tabcorp Holdings Ltd is expected to book an annual net profit for 2004/05 of around $350 million but analysts say there is some uncertainty surrounding the company.

"Citigroup Investment Research said Tabcorp's main driver - gaming - should deliver solid revenue growth in Victoria, where the company operates about 13,600 poker machines.

"Tabcorp's casinos were also expected to post a strong result, reflecting a full 12-months contribution from the Jupiters casino assets which it acquired in October 2003.

"And the wagering division is expected to show strong profit growth as a result of Tabcorp's integration of TAB Ltd, which it acquired in July 2004.

"But Citigroup said there were concerns about the wagering division because betting turnover in New South Wales had been negatively impacted by the loss of coverage of Sydney metropolitan and Victoria thoroughbred races on Sky Channel in the second half of 2004/05…"

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	Tabcorp Expects Profit of $350 Million 29 Aug 2005 AUSTRALIA – As reported by the Gaming giant Tabcorp Holdings Ltd is expected to book an annual net profit for 2004/05 of around $350 million but analysts say there is some uncertainty surrounding the company. "Citigroup Investment Research said Tabcorp's main driver - gaming - should deliver solid revenue growth in Victoria, where the company operates about 13,600 poker machines. "Tabcorp's casinos were also expected to post a strong result, reflecting a full 12-months contribution from the Jupiters casino assets which it acquired in October 2003. "And the wagering division is expected to show strong profit growth as a result of Tabcorp's integration of TAB Ltd, which it acquired in July 2004. "But Citigroup said there were concerns about the wagering division because betting turnover in New South Wales had been negatively impacted by the loss of coverage of Sydney metropolitan and Victoria thoroughbred races on Sky Channel in the second half of 2004/05…"