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Australian Tabcorp posts net loss of USD20.8mln
(MENAFN) The Australian games operator, Tabcorp had reported net loss for full-year of USD20.8mln, mainly due to costs related to its proposed merger with Tatta.
The net loss had become in contrast with last year's USD169.7mln profit and amid a 2% lift in revenue to USD2.23bln for the 12 months to June.
According to the Managing Director David Attenborough had said: "We made investments in acquiring Intecq, establishing Sun Bets and progressing the combination with Tatts, which we expect to complete by the end of the year," and he added that FY17 was important year strategically for Tacborp as they reshaped business for growth.
However, Tabcorp is in merger deal worth USD11bln with gaming rival Tatts Group, which faces some opposition from rivals.
The net loss had become in contrast with last year's USD169.7mln profit and amid a 2% lift in revenue to USD2.23bln for the 12 months to June.
According to the Managing Director David Attenborough had said: "We made investments in acquiring Intecq, establishing Sun Bets and progressing the combination with Tatts, which we expect to complete by the end of the year," and he added that FY17 was important year strategically for Tacborp as they reshaped business for growth.
However, Tabcorp is in merger deal worth USD11bln with gaming rival Tatts Group, which faces some opposition from rivals.
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