Tatts Group has lost its grip on the Australian pokies market, and the operator will have to focus on other outlets in order to keep its revenue up. Fortunately, the company’s non-pokies products continue to thrive; so, Tatts Group should have no problem shifting its focus to it lottery and betting brands.
This week, it was announced that Tatts Groups profits are up for the year ending June 2012. The company’s biggest earner was its lottery brand, with its profits rising by 15%. Tatts’ betting services also thrived over the course of the past year.
Recently, it has been revealed that Tatts Group is livid that the Victoria government ended its pokies duopoly TabCorp and has announced that it will be suing for at least $500 million. The company has lost income from over 25 000 poker machines in Victoria, but the news that pokies were not its top earner will certainly take the sting out.
Moving forward, Tatts Group will focus on its lottery and betting products. The company remains optimistic that it will see improved profits over the course of the next year, despite losing its pokies business in Victoria.