This morning Tabcorp Holdings Ltd [ASX:TAH] share price slightly dipped, by 1.37%.
They are now trading at $4.66 a share, down from last month’s $5.11 a share.
Their statutory profit is down 58% from the previous year, as they reported a $24.6 million statutory profit for the last half of 2017.
Results for Tabcorp steer towards a negative state, as underlying profit stands 20% lower than the figure from the previous year.
A 4% increase in operating expenses for Wagering and Media Tabcorp’s core businesses, resulted in poor figures.
Tabcorp is also facing tough foreign competition in the online betting platform.
Tabcorp’s recent merge
Tabcorp and Tatts merge last year in December resulted in a conversion of shares.
Tabcorp plans to reshape itself in order to compete in the constantly changing gambling terrain. By merging with Tatts they are able to widen their operations.
They are primarily focused on improving overall business benefits with the strengths of the combined group.
Tabcorp expects their combination venture with Tatts to deliver around $130 million in earnings for the first full year after the merge, which is aimed to take around two years.
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