TAB New Zealand Update on Trading Performance - December

22 January 2021
TAB New Zealand (TAB NZ) provides the latest monthly trading update for the 2020/2021 financial year, with the results and highlights for December 2020.
 

Wagering Performance Summary

December was another strong month for the TAB with a reported profit before distributions of $16.2M, which was $4.4M above Budget and $1.7M above last year.  

Racing 

NZ Racing margin was 14.0%. Thoroughbred field sizes continued to average over 11 starters per race, again contributing to a strong thoroughbred margin of 14.8%. As with November, thoroughbred margin continued to be 2 percentage points above budget for the month. 

Overseas Racing margin was in line with the budget of (18.7%). Consistent with November, all overseas racing codes had a margin of over 17%.

Sport

The restart of the NBA season has increased inplay turnover on Basketball options with Basketball accounting for 38% of all inplay turnover for the month, at a margin of 7%.

The pre-match sports margin was influenced by the beginning of the summer sports season with Cricket (GBR of 11%), Basketball (GBR of 9%) and Football (GBR of 16%) accounting for 70% of all pre-match turnover. This represents a marked difference from November where 60% of pre-match sports turnover was on Rugby (30%), Football (15%) and Rugby League (11%).

Sports Multi margin was influenced by the top 3 sports by multi turnover for the month - Football (37%), Basketball (27%) and American Football (12%). All three of these sports had multi margins over 33% for the month.

December Operational Performance 

  • Net Profit for the month was $16.2M, which was $4.4M above budget and $1.7M above Last Year.
  • Operating Expenses for the month were $9.7M, which was $0.3M below Budget and $2M below Last Year. 
  • Year To Date (1 Aug to 31 Dec) Operating Profit was $77.4M, which was $20.6M above Budget and $13.1M above Last Year. 
  • Year To Date (1 Aug to 31 Dec) Operating Costs were $48.6M, which was $0.9M below Budget and $10.8M below Last Year. 

 

December Distributions

Racing Codes were paid $12.9M in actual distributions for December versus $11.9M budgeted. This consisted of TAB NZ betting profit (listed as Fixed Distribution in the table below), Offshore Bookmaker Commission Fees, which are based on actual turnover (termed Betting Information User Charge (BIUC) in the table below), and Betting Duty repeal.

December Wagering Performance 

  • Turnover of $224.5M was $34.5M above Budget and was driven by Sport +$6.1m, International Racing (exc VIP) +$9.5m, Domestic Racing (exc VIP) +$16.4m and VIP +$2.5m.
  • Gross Betting Revenue was $36.5M, $6.5M above Budget and $4.1M above Last Year. 

The Active Customer Base for December was 97,000

Top 10 Sporting events by turnover

Date

Code

Event

Turnover

22-Dec

Cricket

New Zealand v Pakistan

$555K

18-Dec

Cricket

New Zealand v Pakistan

$500K

8-Dec

Cricket

Australia v India

$443K

2-Dec

Cricket

Australia v India

$322K

29-Dec

Cricket

Australia v India

$287K

20-Dec

Cricket

New Zealand v Pakistan

$261K

18-Dec

Cricket

Australia v India

$245K

23-Dec

Basketball

Los Angeles Lakers v Los Angeles Clippers

$211K

5-Dec

Rugby Union

Australia v Argentina

$207K

23-Dec

Cricket

Brisbane Heat v Adelaide Strikers

$199K

Top 10 Racing events by turnoverate

Venue

Race No.

Race description

Turnover

26-Dec

Ellerslie

R9

Cambridge Stud Zabeel Classic (G1)

$870K

26-Dec

Ellerslie

R8

Jamieson Park Eight Carat Classic (G2)

$731K

26-Dec

Ellerslie

R7

Stella Artois 1500 Championship Final

$729K

26-Dec

Ellerslie

R10

Barfoot & Thompson 1400

$718K

26-Dec

Ellerslie

R6

Shaw's Wire Ropes Uncle Remus Stakes

$626K

26-Dec

Ellerslie

R5

Hallmark Stud Handicap

$618K

26-Dec

Ellerslie

R3

Skycity 1100

$580K

12-Dec

Te Rapa

R7

Skycity Hamilton Waikato Cup (G3)

$566K

26-Dec

Ellerslie

R4

Auckland Co-Op Taxis 1200

$491K

5-Dec

Trentham

R8

Rydges Wellington Captain Cook Stakes (G1)

$442K