Business
COVID-19 impacts Tabcorp profits – Racing.com
Wagering and media businesses adversely affected by pandemic
Australian betting company Tabcorp has revealed the devastating impact of the COVID-19 pandemic on its business.
Tabcorp will write down its wagering and media business by at least $1 billion as it anticipates to report a net profit for the past financial year in the range of $267m to $273m, a reduction of more than 30 per cent from $396m for the previous period.
In a statement released on Monday providing an update to investors, Tabcorp identified four contributing factors which led to the de…
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