Australia's Tabcorp hits 2-1/2-year low on revenue fall

Tabcorp Holdings

12/10/2023 24:57

** Shares of Australia's Tabcorp Holdings  TAH.AX  down
11.8%, hitting their lowest since March 17, 2021
    ** Gambling platform operator posts 6.1% decline in group
revenue for first quarter
    ** Trading update indicates tough market conditions -
Jefferies
    ** Brokerage says weaker yields announced from unfavourable
racing and sports results may see revenue decline even further 
    ** Says tougher conditions for smaller wagering operators in
Australia may lead to industry consolidation   
    ** TAH stock down 9.3% this year, as of last close

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))