 Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! |
Gaming News
Investors Punish Tabcorp19 February 2003AUSTRALIA – As reported by the West Australian: "Investors punished Tabcorp Holdings yesterday after the gambling giant delivered an interim net profit slightly below expectations and predicted full year earnings to be flat at best. "The company, which provides wagering and gaming facilities in Victoria and owns Sydney's Star City Casino, lost almost $132 million (US$78.45 million) in value as the shares dropped 36¢ to $9.79 (US$5.81) . "Tabcorp increased net profit 2.4 per cent to $131.2 million (US$77.97 million)for the six months to December 31, on revenue that grew 0.3 per cent to $980.2 million (US$582.53 million). "But the company said 2003 full-year results were likely to be either static or lower than the previous corresponding period. "…Chipping away at the interim bottom line was a disappointing performance from the gaming division, with poker machine-driven profit and revenue falling into the red for the first time since Tabcorp listed…" |