Australia’s Tabcorp has reported year-on-year growth across revenue, underlying EBITDA and net profit during the first half of its 2025 financial year, primarily due to the impact of a new licence in the state of Victoria.
For the six-month period to 31 December 2024, Tabcorp posted group revenue of AUS$1.33 billion (£672.4 million/€812.2 million/US$846.1 million). This surpasses H1 of the previous year by 10.1%.
Awarded in December 2023, the new Victoria licence came into effect in August 2024. It grants Tabcorp exclusive rights to offer wagering and betting in Victoria for the next 20 years. While still in its infancy, the licence impact was clear to see in Tabcorp’s H1 results, published today (20 February).
The licence means Tabcorp no longer need to collaborate on the joint venture arrangement with the Victorian racing industry. Other industry funding obligations were also terminated, with Tabcorp instead paying wagering taxes and racing and sports product fees on the same bas..
