|Jupiters reported its final financial result before its merger with Tabcorp.|
The Queensland based casino operator disclosed a yearly profits of $58.5 million – a 25 per cent fall from the previous financial year, and gave its share holders a 12¢ dividend.
The current results may disappointing, but the company’s future seems bright. By merging with Tabcorp on October 24 this year (subject shareholders approval) the combined enterprise will be a $5 billion gaming and wagering giant with a customer base covering Queensland, NSW and Victoria in Australia.
The company attributes the latest results to expenses of over $16 million incurred by the merger and the issuing of reset preference shares in April. Centrebet – Jupiters online sports betting operation posted a $5.2 million drop in EBITDA, earning $9.5 million.
Centrebet, worth an estimated $60-$70 million is soliciting bidders and its sale is exoected before the 31st of October.