Smoking bans hit Tabcorp
The Victorian Government's gaming venue smoking ban has hit Tabcorp's revenue, which has dropped 1.6 per cent in the 10 months to April 30 compared with the same period in 2002. The full-year profit is expected to be down between 1 and 3 per cent or between 4 and 6 per cent with the addition of one-off items.
Tabcorp's gaming revenue fell 12.8 per cent in the four months to April 30, following the State Government's ban on smoking in gaming venues, introduced in September 2002. However, revenue from Tabcorp's Star City casino in Sydney rose 2.4 per cent in the four months to April 30. The wagering division reported a 3.3 per cent increase for the same period.