Mon, Feb 25, 2:05pm by Staff Writer
An American lottery and gaming innovator and one of Australia’s most popular wagering companies are pairing up with Scientific Games Corporation and Tabcorp Holdings Limited announcing a partnership that will upgrade the popular Keno product.
Las-Vegas headquartered Scientific Games Corporation announced last Friday that the deal will involve some of its Wave retail cabinets, which offer competitors the chance to take home cash prizes worth up to $1 million for as little as a one-dollar stake.
The Global Strategic Accounts President for Scientific Games Corporation Michael Conforti declared that his firm has so far deployed approximately 80,000 of its Wave terminals with partners around the world.
He went on to say that the innovative units have been designed with ‘advanced ergonomics’ and come in ‘a variety of sizes’ in order to help retail clients get the most from their operations.
“With the upgrade to these advanced retail terminals for keno players Tabcorp Holdings Limited is again demonstrating its commitment to enhancing the player experience,” Mr Conforti said.
Melbourne-based Tabcorp Holdings merged with local rival Tatts Group Limited in December 2017.
The Keno General Manager for Tabcorp Holdings Limited Terry Fowler described Scientific Games Corporation as ‘a valuable business partner’ that has already helped his firm’ to develop and enhance our Keno business in Australia.”
“We appreciate Scientific Games Corporation’s global gaming expertise as well as its technology innovation and commitment to responsible gaming. Our Keno players will enjoy a more modern experience with new Wave terminals,” Mr Fowler said.
— Zax News (@wWnewsWw) February 23, 2019
Tabcorp recent half-yearly results also showed a market that is increasingly tempted by big money lotto draws.
The performance of the company’s digital lotteries sector increased an impressive 63.5 per cent in turnover, due to a growth in product offerings and business improvements.
Digital lotteries now make up 21.5 per cent of that segment’s total turnover, which Mr Attenborough called the standout performance of the results.
Retail turnover has also seen sizable growth, up 11 per cent.
“The strong performance was driven by digital growth and game innovation, including bigger and more frequent Powerball jackpots,” Mr Attenborough told IT News.
Big prizes and the ability to get your lucky numbers in digitally instead of queuing at a newsagent is also seen as a major reason for the boom in digital lotteries.
Total lotteries revenue was up 19.6 per cent, coming in at $1.292 million.
Tabcorp’s wagering and media division did not boast as impressive results, with a four per cent drop to $159.6 million in earnings.
Increased advertising and promotional offerings such as bonus bets have been attributed to the drop in revenue.
The strategy has proven to be beneficial for the bookmaker though, with Tabcorp’s TAB brand growing its customer base by 6.7 per cent to 533,000.
Tatts Group’s struggling UBET brand “held market share”, Mr Attenborough said.
The emphasis on an increase in advertising came after a raft of new state-based taxes took effect at the turn of the New Year.
The point-of-consumption tax applies to bookmakers such as Tabcorp, BetEasy, Sportsbet, Bet365, Ladbrokes and Betfair.
It will collect 8 per cent of their net wagering revenue in Victoria.
In New South Wales, the tax rate is 10 per cent, while in South Australia, Western Australia and Queensland it is as high as 15 per cent.
The tax is set to apply to free or bonus bets as well, which are regularly given out to punters.
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