Tabcorp has released its figures for the financial year ending June 30 which show a return to profit of AU$36.6 million (£17.65 million), compared to the net loss after tax of AU$1.36 billion (£656 million) in its results for FY24.
In the firm’s 2025 annual report, the Australian sports betting and entertainment company declared an 11.8% increase in revenue year-on-year, reaching AU$2.61billion (£1.26 billion) with an EBITDA of AU$391.5 million (£188.8 million), an increase of 23.2%.
Net profit before significant items reached AU$49.5 million, an impressive hike of 76.8%.
How Tabcorp Turned It Around
Tabcorp has an extensive range of brands spanning across sports betting, media and integrity services.
Among its portfolio sit TAB, Australia’s largest multi-channel wagering brand, offering both retail and online sports betting and Sky Racing, the country’s leading racing network which broadcasts over 150,000 races live every year.
Tabcorp attributed some of its FY25 success to a transition to a Victorian Wagering and Betting Licence, which became effective from August 16, 2024.
It also signalled that the implementation of a new leadership structure added to cost effective measures and a higher focus on execution had all helped deliver the turnaround from loss to profit.
Gillon McLachlan took over as Managing Director and Chief Executive Officer in August 2024 and two months later Brett Chenoweth was appointed chair.
“Today’s pleasing results are the outcome of creating a fitter company,” McLachlan said.
“We have increased our wagering and media capability at the leadership level, developed a simpler, more cost-effective operating model and are operating with a bias for action and increased accountability.”
“We have an evolved strategy with a broader focus on unlocking the value that lies within our unique asset base.
“We have commenced executing the strategy, including the creation of a structurally profitable retail business that will, in time, increase patronage to pubs and clubs with a true omnichannel offering.”
Tabcorp’s Revenue Drivers
Wagering and Media was the power driver in FY25, generating AU$2.44 billion, which was a 12.8% increase year-on-year, while EBITDA was up 31% to AU$329.1 million.
Wagering turnover grew strongly, with cash net revenue up 17.5% to AU$965.7m and digital up 16% to AU$1.1 billion.
MAX, Tabcorp’s Integrity Services division, enjoyed a 7.6% rise in revenue with AU$175.8 million.
FY26 will be the first full year for the company operating with a Victorian Wagering and Betting Licence and it expects the wagering market to continue to exhibit small but steady growth.
Although there were no guidance figures for revenue or EBITDA, the firm anticipates Capex of between AU$120 million to AU$140 million, with depreciation between AU$215 million to AU$225 million.
Jim Munro is a betting industry and gambling expert who has been a national newspaper journalist for over 30 years, predominantly at The Sunday Times and The Sun, where he wrote a weekly soccer betting column. Jim also worked on the launch of Virgin Bet with Gamesys and was subsequently head of editorial at LiveScore, the sports media and betting group.
