Lotteries and wagering firm Tatts Group has had a strong start to the financial year, with a strong run of jackpots and a lift in wagering revenue.
"In terms of trading performance, I am pleased to be able to report that the strong start to the year, that we reported back in August when announcing our FY14 result, has continued," chief executive Robbie Cooke told shareholders at the Tatts annual general meeting on Wednesday.
Mr Cooke said Tatts' lotteries business had experienced 10 jackpots at or above $15 million so far this financial year, compared to eight last year.
Mr Cooke said that in lotteries, first division pools were averaging $28.5 million, compared to $23.1 million last year.
This had resulted in a 12 per cent rise in lotteries revenues in the first three months of the financial year, compared to a year ago.
Wagering revenue in the first quarter had enjoyed a positive turnaround, lifting one per cent.
Mr Cooke also welcomed the Victorian government's variation to Tatts' lotteries licence enabling Tatts to offer scratch-its and daily keno after Intralot decided to stop offering these products in Victoria and Tasmania.
"These products are highly complementary with our existing portfolio of lottery games in Victoria, which includes the ever popular TattsLotto, Powerball and Oz Lotto," Mr Cooke said.
Mr Cooke said that in the current financial year, Tatts would launch a new website for its wagering activities and roll out a new retail model including self-service terminals and virtual sport and racing consoles.
Tatts would also launch its "nextgen" sports betting platform in the second half of the year, which Mr Cooke said would deliver a significantly enhanced sports betting capability to the group.
Tatts would also roll out lotteries in convenience fuel outlets and was awaiting regulatory approval for a new draw game that will operate nationally.
In addition, Tatts hoped to roll out its popular NSW Lucky Lotteries game across all of the group's markets.
Tatts was also working on a new lotteries website.
Shares in Tatts were 2.5 cents higher at $3.355 at 1509 AEDT.
AAP tsc/gfr
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