Tab NZ reports turnover decrease in February

| By Marese O'Hagan
Tab NZ has reported betting turnover of NZ$184.9m (£97.3m/€116.9m) for February, down 23.3% from the previous month.
horse racing

This was also a decrease year-on-year of 1.2% and 2.3% below budget for the month.

Gross betting revenue was NZ$30.1m, a decrease of 24.7% from January but a rise of 1.1% year-on-year.

Profit for February was NZ$11.3m, down 36.5% month-on-month but up 9.7% from February 2021. This was NZ$200,000 less than the budget for the month.

Betting profit made up NZ$10.1m of the total profit, NZ$400,000 over budget, while gaming profit brought up the remaining NZ$1.2m, coming in NZ$600,000 under budget.

Profit for the year to date totalled at NZ$96.9m, down 7.5% year-on-year and NZ$800,000 under budget.

Operating expenses for the month fell by $900,000 compared to January, to NZ$9m, and fell by NZ$600,000 year-on-year.

The most successful day for horseracing turnover for the month was at the Herbie Dyke Stakes at the Te Rapa venue on 12 February, which generated NZ$538,000.

The AJC Avondale Guineas at Ellerslie brought in the second most turnover, at NZ$537,000, while the Mainland 1600 at Ellerslie saw turnover of NZ$368,000.

Super Bowl LVI saw the most turnover for sports in February by far, hitting NZ$754,000 in turnover. The MMA fight between Israel Adesanya and Robert Whittaker brought in NZ$546,000 in turnover while the rugby union match between the Highlanders and the Crusaders saw NZ$346,000 in turnover.

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