Tab NZ reports 16.7% rise in turnover for March

Tab NZ has reported betting turnover of $215.9m (£112.1m/€133.1m) in March, up by 16.7% from February.

This was $4.7m (2.2%) over budget.

Gross betting revenue was $34.6m, $900,000 (2.6%) over budget and an increase of 20.9% month-on-month.

Profit in March came to $12.1m, $1.6m below budget and 7% higher than in February. Betting accounted for $10.7m of the profit, up by 5.9% month-on-month, while the gaming profit was $1.4m, a rise of 16.6%.

Profit for the year to date came to $109.1m, $7.6m less than in the same period last year. Operating expenses for the yeae to date were $76.9m, $2.7m more than compared to the same period of the 2020-2021 financial year.

The racing event that bettors wagered the most money on in March was the Vodafone NZ Derby in Ellerslie, which accounted for $793,000 in turnover. The second highest was the Barfoot & Thompson Auckland Cup at $756,000, followed by the Al Basti Equiworld Dubai New Zealand Oaks at $633,000.

The top sporting event for turnover was the New Zealand Warriors vs St George/Illa Dragons rugby league match, with turnover of $396,000.

The second and third highest sorting events for turnover were also rugby league events. The Manly Sea Eagles vs Canterbury Bulldogs match generated $384,000 in turnover, while the Wests Tigers vs New Zealand Warriors match saw turnover of $379,000.

Author: Raymond Fleming