Tabcorp Reports 39 Percent Annual Profit Increase
Tabcorp Ltd. (TAH) is reporting a 39 percent increase in annual profit to US$139.74 million.
The Australian gaming company's managing director, Ross Wilson, said he expects the growth to continue as the group makes more acquisitions. Tabcorp is announcing a final dividend of 32 cents. Wilson will be leaving the company at the end of August, but he said the results for the year ending June 30 show strong results from all of Tabcorp's divisions and that he has confidence in the company's future success.
"I still think that the basic underlying businesses have got good growth potential going forward," he said.
Net operating revenue increased 6.6 percent to $1.03 billion and strong cash flow enabled an $88.57 million decrease in the company's net debt.
Jupiters Reports Record Profit, Declares Global Aim
Rob Hines, chief executive of Jupiters Ltd. (JUP) said recently that the company is going to concentrate in international growth because the Australian market is becoming full.
The company, which is based in Queensland and operates the online sports betting business Centrebet, is reporting is highest yearly net profit ever--an increase of 1.3 percent to US$41.82 million. The company said its high net profit is due to growth in its Keno, Centrebet and high
roller businesses.
The company's revenue increased 2.5 percent to US$426.42 million and operating revenue went up 3.7 percent to US$414.48 million.
Revenue from Internet-based sports betting rose 56 percent to US$15.37 million and high roller commission went up 28.4 percent.
Channel Islands Company Buys Magna Shares
Fair Enterprise Ltd. made a second purchase of Magna Entertainment Corp. (MIEC) stock last week and now owns 5.8 percent of the company.
On Aug. 13, Fair Enterprise bought 304,000 shares of Magna and on Aug. 16 purchased an additional 945,000 shares. Fair Enterprise is based in the Channel Islands and is operated by Bergenie Anstalt, who is an associate of Frank Stronach, the chairman of Magna.
Stronach shares in control of the Fair Enterprises shares, meaning that he has direction over 9,004,179 shares--about 18.5 percent of the company.
Fair Enterprises released a statement saying it bought the Magna shares as an investment and may buy more in the future.
Reports Released
Boss Media, the Swedish casino software maker, is reporting net turnover of SEK62.2 million in the first six months of this year--a significant fall from the SEK102.3 million it reported in the first part of last year. During the past six months, the company's U.S. business has fallen from 70 percent to 25 percent of its overall business.
Boss Media AB (BOSS) -
Interim Report
Wembley plc (WMY) is announcing a 29 percent increase in operating profit from continuing operations before exceptional items in its interim report. The track-based gaming company is also reporting a 30 percent rise in adjusted earnings per share.
Wembley plc (WMG) - Interim Report