August 1, 2022 3 min read


TAB NZ Shares June Monthly Trading Update, Reported Profit Is $11M

TAB New Zealand has shared the June 2022 monthly trading update as a part of the 2021/2022 financial year. The report states that the performance was down on the positive trend of the year as turnover reached $197.3 million, which is 3.9% below budget. Gross betting revenue was 3.2% down on budget ($31.6 million) and the gross betting margin was 0.1% above the budget (16%). 

June Operational Performance Explained in Detail

The reported profit for the month of June was $11 million, $1.7 million below budget. The operating expenses were $10 million, which is $0.2 million below budget. 

Out of the $11 million in reported profit, betting profit accounted for $9.3 million, while the gaming profit was $1.7 million. Betting profit was $1.5 million below budget, while gaming profit was $200,000 below budget. 

Racing codes got $13.2 million in contributions and other payment sections. Fixed distribution gained $10.7 million, Betting Information Use Charges, reported under BIUC, was $1.6 million and betting levy repeal was $0.9 million. 

In terms of turnover, the top 5 racing events were TAB Stradbroke Handicap (G1) race number R8 ($411,000), Sky Racing Q22 (G2) race number R6 ($371,000) Bream Bay Painting R10 ($328,000), Animal Feed Barn 19th Birthday Mile ($323,000) and Treasury Brisbane J.J. Atkins (G1) ($318,000). 

The top 10 list included Channel 7 Queensland Oaks (G1) ($311,000), ITM/GIB Progressive Winter Championship Series ($301,000), Rhys Mischefski, Bayleys Whakatane Handicap ($290,000), Team Wealleans Tauranga Classic ($289,000) and Fairview Motors Matamata 1400 ($287,000). 

Blues v Crusaders was the leader on the list of top sporting events by turnover. This event had a $1.4 million turnover. The top 5 lists included New South Wales v Queensland ($780,000) on June 26, New South Wales v Queensland on June 8 ($766,000), Crusaders v Chiefs ($615,000), and New Zealand v Tonga ($610,000). 

Blues v Brumbies ($591,000), Maori All Blacks v Ireland ($586,000), Boston Celtics v Golden State Warriors ($524,000), New Zealand Warriors v Cronulla Sharks ($514,000), and Golden State Warriors v Boston Celtics ($493,000) closed off the top 10 list. 

May’s Operational Profit Was Slightly Below June’s Profit 

Even though TAB NZ operated above budget in April, May resulted in under-budget operations. However, May’s report suggested that the company actually had a slightly lower reported profit than June. The May profit was $10.8 million, $2.4 million below budget, and $0.2 million lower than June. 

Racing codes in May were paid $13.8 million, which is $0.6 million higher than in June. Out of those, BIUC had $1.8 million, and betting levy repeal had $0.9 million. 

TAB Kingsford-Smith Cup (G1) was the top racing event by turnover ($328,000) and Cronulla Sharks v New Zealand Warriors, which took place on May 8, was the top sporting event in terms of turnover ($584,000). 

In June, New Zealand’s government announced that it will spend $75 million on a new program for preventing gambling harm and TAB NZ was listed as one of the entities that will fund the program. 

Filip Mishevski has been covering online gambling and cryptocurrencies for the past few years. He has written countless articles, how-to-guides, insights and news, and is keen on sharing his extensive knowledge in the aforementioned fields. He’s very passionate about soccer and MMA and is interested in how the online gambling industry will shape our future and thus, influence our lives.

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