News: Tabcorp books loss

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Tabcorp Holdings Limited (ASX:TAH) has posted a significant loss in full-year net profit, after it was hit by costs associated with the new structure of Victoria's gambling industry.

 

In the year to June 30, Tabcorp posted net profit of $126.6 million, a 63 per cent decline on the previous year.

 

The group's result was weighed by a number of costs associated with the restructure of the gambling industry, including an $18.6 million impairment charge for its Victorian Keno licence and a $47.2 million write-off of goodwill on its now decommissioned Victorian gaming business.

 

In the same period, revenue was $2.1 billion, a 30 per cent decrease on the previous year's total revenue.

 

The gaming giant declared a fully-franked full-year dividend of 19 cents, lower than the previous year's 24 cents distribution.