This was also a decrease year-on-year of 1.2% and 2.3% below budget for the month.
Gross betting revenue was NZ$30.1m, a decrease of 24.7% from January but a rise of 1.1% year-on-year.
Profit for February was NZ$11.3m, down 36.5% month-on-month but up 9.7% from February 2021. This was NZ$200,000 less than the budget for the month.
Betting profit made up NZ$10.1m of the total profit, NZ$400,000 over budget, while gaming profit brought up the remaining NZ$1.2m, coming in NZ$600,000 under budget.
Profit for the year to date totaled at NZ$96.9m, down 7.5% year-on-year and NZ$800,000 under budget.
Operating expenses for the month fell by $900,000 compared to January, to NZ$9m, and fell by NZ$600,000 year-on-year.
The most successful day for horseracing turnover for the month was at the Herbie Dyke Stakes at the Te Rapa venue on 12 February, which generated NZ$538,000.
The AJC Avondale Guineas at Ellerslie brought in the second most turnover, at NZ$537,000, while the Mainland 1600 at Ellerslie saw turnover of NZ$368,000.
The Superbowl LVI saw the most turnover for sports in February by far, hitting NZ$754,000 in turnover. The MMA fight between Israel Adesanya and Robert Whittaker brought in NZ$546,000 in turnover while the Rugby Union match between the Highlanders and the Crusaders saw NZ$346,000 in turnover.
Original article: https://igamingbusiness.com/tab-nz-reports-turnover-decrease-in-february/
