Tab New Zealand (NZ) has missed its turnover and revenue targets, reporting a 3.9% and 3.2% shortfall respectively.
The betting monopoly has reported NZ$197.3m (US$124.9m) in wagering turnover and NZ$31.6m in gross betting revenue (GBR) for June, both below Tab’s budget.
Turnover came up NZ$8.1m short, while GBR was NZ$1m below budget, and this trend extended to virtually every financial metric. For example, it generated NZ$11m in profit, a NZ$1.7m shortfall driven by a drop in betting activity.
While Tab’s gaming business produced NZ$1.7m, this was only NZ$200,000 below budget when compared to betting, which was NZ$1.5m short.