Tabcorp reported a 3.9% decline in group revenue, falling to $2.34 billion for FY24, citing challenging conditions in the wagering market.

The company posted a statutory net loss of $1.36 billion, which included non-cash impairment charges totaling $1.38 billion.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) dropped 18.7% to $317.7 million.

Tabcorp announced an unfranked final dividend of 0.3 cents per share.

In an ASX statement, CEO-elect Gillon McLachlan said, “Tabcorp anticipates that the macro-economic environment will remain difficult for customers, with high interest rates and persistent inflation expected to continue. Additionally, the tightening regulatory environment is further impacting the wagering market. As a result, we expect the soft conditions observed in the second half of FY24 to persist in the near term.”

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