Tabcorp is set to embark on a three-year enterprise-wide optimisation program after “substantially completing” integration works following its $11.3 billion merger with Tatts.
The company said it had now finished migrating UBET customers to the TAB digital platform, and that “wagering call centres and other infrastructure have also been consolidated” as part of the integration works.
“With the integration program substantially complete, the group is embarking upon a three-year enterprise-wide optimisation program to deliver significant cost savings and enhanced operational capability,” it said in an FY20 results filing.
“Key focus areas include operating model changes; process simplification and redesign; data and digitisation improvements; and maximising value from our vendor spend and property footprint.”
The company provided no further details or explanation of the optimisation works in a presentation for financial analysts.
Managing director and CEO David Attenborough said in a statement that “we are focused in FY21 on capturing the value from the digital opportunity across Lotteries, Keno and Wagering and on unlocking the value of a more competitive TAB.”
The company also provided a brief update on its response to COVID-19, which it said in a slide deck included a “reduction in technology contractors”, though it did not elaborate.
Like other companies, Tabcorp saw an “accelerated … channel shift to digital” during COVID-19, mostly because of the forced closure of retail betting venues.
“Tabcorp’s digital wagering turnover grew 3.8 percent in FY20 to $7.1 billion, and retail turnover declined 27.9 percent to $5.4 billion,” it said.
“This is the first time digital turnover has exceeded retail turnover in Tabcorp’s wagering business across a full year”.