Tabcorp Holdings Limited · ASX:TAH
Tabcorp — Shareholder Meeting (October 2009)
22 slides from Tabcorp's shareholder meeting presentation, Oct 19, 2009
Slide 1: Tabcorp Holdings Limited Annual General Meeting 2009
For personal use only 2009 Tabcorp Holdings Limited Annual General Meeting 19 October 2009 1 ABN 66 063 780 709
Slide 2: Chairman: John Story
For personal use only 2009 Tabcorp Holdings Limited Annual General Meeting John Story Chairman 19 October 2009 2
Slide 3: Tabcorp group profile
Tabcorp group profile EBITDA by Division For personal use only Qld Casinos Casinos Wagering 19% NSW Wagering Casinos 30% 19% Gaming 32% Gaming 3
Slide 4: 2009 review
2009 review ¾ Reported NPAT $522 million, up from previous year loss For personal use only ¾ Normalised NPAT $496m, up 1.2% Revenues up 5.6% – positive performance across divisions Expenses up 5.6% – investment in service, marketing, Luxbet ¾ Balance sheet strengthened – raised $387m equity and
Slide 5: Tabcorp's main licences
Tabcorp’s main licences NSW Star City 2093 For personal use only Qld Conrad Jupiters Perpetual Casinos Qld Conrad Treasury 2070 Qld Jupiters Townsville Perpetual Vic Wagering 2012 Wagering NSW Wagering 2097 NT Luxbet 2015 Vic Gaming (incl Keno) 2012 Gaming NSW Keno 2022 Qld Keno 2022 5
Slide 6: Contributions to industry and community
Contributions to industry and community ¾ Income generated for racing industry: For personal use only $321 million for Victoria $237 million for New South Wales ¾ Gambling taxes $1.4 billion ¾ State community benefit funds $93 million ¾ Community support contributions $3.7 million $2 million B
Slide 7: Responsible gambling
For personal use only Responsible gambling ¾ Tabcorp is committed to delivering its products responsibly ¾ Recognised by Dow Jones Sustainability Index as a leader in responsible gambling for 8 years 7
Slide 8: Expansion initiatives
Expansion initiatives Casinos Wagering Gaming For personal use only ¾ $575 million expansion ¾ New Northern Territory ¾ Keno expansion into investment based business NSW hotels ¾ Project largely ¾ 24,000 customers after ¾ Exploring Tabcorp completed by late 2011 12 months Gaming Solutions 8
Slide 9: Annual General Meeting October 2009
For personal use only 2009 Tabcorp Holdings Limited Annual General Meeting 19 October 2009 9
Slide 10: Managing Director and CEO: Elmer Funke Kupper
For personal use only 2009 Tabcorp Holdings Limited Annual General Meeting Elmer Funke Kupper Managing Director and Chief Executive Officer 19 October 2009 10
Slide 11: 2009 financial results
For personal use only 2009 financial results $m FY09 FY08 Change Revenues 4,170.7 3,951.0 5.6% Variable contribution 2,111.8 2,051.9 2.9% Operating expenses (1,072.9) (1,016.2) 5.6% NPAT Normalised 496.2 490.2 1.2% Reported NPAT 521.7 (164.6) >100% Notes:. 1. Revenue normalised for theoretical win r
Slide 12: 2009 highlights
2009 highlights Casinos Wagering Gaming For personal use only EBIT $328m▼11.0% EBIT $252m ▼1.6% EBIT $277m ▲13.9% ¾ New leadership team ¾ Equine Influenza ¾ Vic Gaming revenues with significant casino recovery in 1H09 up 5.0%; market experience share reaches 52.6% ¾ Improved 2H09 ¾ 2H09 impacted by
Slide 13: Racing Industry funding
For personal use only Racing Industry funding Growth Growth FY09 1H09 2H09 Victoria $321m 8.9% 4.7% New South Wales $237m 18.6% 3.4% ¾ Record distributions in 2009 financial year ¾ Slowing growth in second half ¾ Future funding at risk due to lack of consistency in State based regulations and taxes
Slide 14: Product fee differences
Product fee differences Racing industry contributions for every $1 bet For personal use only 5-6c 1.5c 0.5-1c 0.01c Tote Bookmaker Bookmaker Bookmaker on NSW on Victorian before race races races Fields 14
Slide 15: Productivity Commission submission
Productivity Commission submission Objectives For personal use only Competitive Secure industry Consumer Wagering market funding protection Recommendations 1. Prohibit tote odds betting by bookmakers 2. Apply a uniform national wagering tax 3. Charge consistent product fees, based on turnover 4. Dev
Slide 16: Group priorities
Group priorities 2008 2009 2010 2011 2012 2013 For personal use only 1 Casinos – expand Group Wagering – reposition performance Gaming – optimise 2 Business performance and growth 3 Post 2012 environment 16
Slide 17: Casinos: $575 million Star City expansion
For personal use only Casinos: $575 million Star City expansion 17
Slide 18: Casinos priorities for NSW and Queensland
Casinos priorities for NSW and Queensland NSW Racing industry contributions for every $1 For personal use only Queensland bet Immediate focus in 2010 / 2011 Phased approach ¾ Optimise marketing spend ¾ 2010: improve marketing spend ¾ Utilise new systems to deliver ¾ 2011: implement new systems compe
Slide 19: Wagering: leadership in a national market
Wagering: leadership in a national market ¾ Products: Big 6, Fixed Odds expansion, Luxbet For personal use only ¾ Retail: refurbishments, self service technology ¾ New media: internet, mobile phones, PayTV ¾ Vision: new Sky channels, international growth 19
Slide 20: Gaming: Keno and Tabcorp Gaming Solutions
For personal use only Gaming: Keno and Tabcorp Gaming Solutions ¾ Revenue growth 13.5% in FY09 ¾ Expansion into 552 hotels in NSW ¾ New products and self service technology ¾ Tabcorp Gaming Solutions launched 2009 ¾ Utilises Tabcorp’s Gaming track record ¾ Business case decision expected 2010 20
Slide 21: 2010 trading update (normalised)
2010 trading update (normalised) Revenue Growth – 1Q10 Casinos Revenue Growth For personal use only Star City Queensland 5.5% 4.4% 11.6% 4.0% 3.4% 6.4% 4.2% 1.2% Group Casinos Wagering Gaming -0.9% -4.3% Variable contribution up 2.1% 1H09 2H09 1Q10 1H09 2H09 1Q10 Notes: 1. Revenues are normalised fo
Slide 22: For personal use only
For personal use only
Tabcorp Holdings — Shareholder Meeting (October 2009) on 6ix