Tatts Group's wagering business is growing again following its relaunch and revitalisation under the UBET brand.
Tatts' wagering operations suffered a 1.5 per cent drop in wagering revenue to $632.9 million in fiscal 2015.
Tatts launched UBET in April this year, so the UBET initiatives were in place only for the final two months of fiscal 2015.
Tatts chief executive Robbie Cooke said on Friday that the company's wagering business was showing a number of positive signs during the first three months of trading in the current financial year.
"We have seen our wagering turnover return to growth with a turnover lift of 3.6 per cent on the same period last year," Mr Cooke told shareholders at the company's annual general meeting in Brisbane.
"It must however be emphasised it is still early days."
Mr Cooke also cautioned that there was no expectation that the competitive landscape, which includes a number of overseas-based wagering operators that are not licensed in Australia - would soften.
Mr Cooke said the lift in wagering turnover in the first quarter was achieved despite a soft, albeit improving, market in regional Queensland.
Tatts will continue to build the UBET brand over fiscal 2016, with the focus on developing the business's digital assets.
The rollout of "next generation" wagering outlets is on track, with 28 stores up and running.
Tatts will start the rollout of new generation self-service terminals after January 2016.
Mr Cooke said Tatts' overall business had a solid start to trading in the current financial year.
The lotteries business was performing better in the first three months of 2015/16 compared to the same period a year ago.
There had been 13 jackpots at or above $15 million in the year to date, compared to 12 jackpots a year ago.
The new "Set for Life" game, which offers a first prize of up to $20,000 a month for 20 years, had established itself in the market and was performing ahead of Tatts' model.
Mr Cooke said Tatts had started to roll out lotteries into some Woolworths petrol outlets in September.
Shares in Tatts were four cents higher at $3.96.
Share
