Aussie Bookmakers Crave Scale As Legal Uncertainty Grows

Combined online and telephone wagers across Australia’s six leading bookmakers grew 21.9 percent to A$15.6bn in the year to June 2016, but increasing regulatory headwinds and pressures on profitability served to curb executives’ enthusiasm on recent earnings calls.

Paddy Power Betfair this week brought to an end the latest reporting season among listed Australian-facing bookmakers, following on the heels of rivals Tabcorp, Ladbrokes, William Hill and Tatts Group.

In its first set of interim results since completing a merger in February 2016, the operator reported that its market-leading Australian arm Sportsbet grew net revenue 17 percent year-on-year in constant currency terms to £129m (A$252m) in the first half of 2016.

To continue reading please log in or request a demo to speak to a member of the team.

Request a Trial

Click here to request a trial