TABCORP INVESTOR DAY 2 5 O C T O B E R 2 0 1 8
AGEN D A 9.30am Welcome & Introductions Group Overview – David Attenborough 9:30 – 10:00 am CFO Overview – Damien Johnston 10:00 – 10:30 am Lotteries & Keno – Sue van der Merwe 10:30 – 11:15 am 11:15 – 11:30 am Morning Tea Gaming Services – Frank Makryllos 11:30 – 12 noon Wagering & Media – Adam Rytenskild 12:00 – 1:00 pm 1.00 – 1.30 pm Lunch 2
W ELC OME AN D IN TR OD U C TION S David Attenborough Damien Johnston Sue van der Merwe Frank Makryllos Adam Rytenskild MANAGING DIRECTOR & MANAGING DIRECTOR MANAGING DIRECTOR MANAGING DIRECTOR CHIEF FINANCIAL OFFICER CHIEF EXECUTIVE OFFICER LOTTERIES & KENO GAMING SERVICES WAGERING & MEDIA Merryl Dooley Clinton Lollback Mandy Ross Ben Simons CHIEF PEOPLE OFFICER CHIEF RISK OFFICER CHIEF INFORMATION OFFICER CHIEF STRATEGY OFFICER 3
GROUP OVERVIEW D A V I D A T T E N B O R O U G H
TABC OR P IS AU STR ALIA’S LEAD IN G D IVER SIFIED GAMBLIN G EN TERTAIN MEN T GR OU P TABCORP — KEY METRICS (FY18 PRO -FORMA) 1 OVERVIEW ~$5.1B ~$1.0B Gaming Services 6% • Tabcorp completed its combination with Tatts Group 15% in December 2017, creating a world-class gambling entertainment group 46% Lotteries & Keno • We operate a diversified set of market-leading 40% businesses, under a series of long-dated government- issued licences and authorisations • Group employs approximately 5,000 people • We operate an extensive network of retail venues 48% Wagering & Media 45% across Australia Revenue EBITDA Note: 5 (1) Business unit EBITDA allocation excludes intercompany eliminations and unallocated items
OU R BU SIN ESS H AS GLOBAL SC ALE 7 6 ANNUAL REVENUE (A$ BILLIONS) 5 4 3 2 1 0 IGT GVC / Tabcorp Scientific Bet365 Paddy Power Stars / William Hill Intralot Unibet Ladbrokes Games / Sportsbet BetEasy (ex. AUS) Australian Wagering Australian Lotteries & Keno Australian Gaming Services 1 International/Other Source: All total revenue LTM June 2018 per Bloomberg other than GVC and Stars Group (Bloomberg Dec 18 consensus forecast) and Bet365 (March 17 reported). Australian wagering per company segment reporting and Tabcorp estimates. 6 (1) Australian Gaming Services excludes EGM manufacturing and sales. IGT and Scientific Games Australian gaming systems supply included in International/Other
TH E AU STR ALIAN MAR KET IS LAR GE AN D GR OW IN G AUSTRALIAN GAMBLING EXPENDITURE BY PRODUCT SEGMENT $23.7B $23.6B $22.7B 0.4 0.3 $21.2B 0.3 $20.7B 2.0 2.2 CAGR FY12-17 $19.4B 0.3 2.0 0.3 TOTAL 4.1% 2.0 0.3 2.2 3.9 4.4 3.6 1.8 KENO 4.6% 3.4 3.2 LOTTERIES 2.5% 3.0 5.2 4.8 5.2 WAGERING 7.7% 4.4 4.1 3.7 CASINO 5.3% EGMs 2.7% Keno Lotteries Wagering 12.1 12.1 11.6 11.1 10.8 10.6 EGM’s Casino FY12 FY13 FY14 FY15 FY16 FY17 Australian Gambling Statistics 34 rd Ed. 2018 7 Source: Note: Based on Tabcorp estimates, segment FY12-18 CAGR Keno 4.1%, Lotteries 3.1% & Wagering 7.3%
W E H AVE LEAD ER SH IP POSITION S IN EAC H OF OU R C OR E MAR KETS LOT T ERIES & KENO W AGERING & MEDIA GAMING SERVICE S SHARE OF TABCORP REVENUE 1 46% 48% 6% Currently provide services to ~85% DOMESTIC MARKET SHARE 2 Approximately 84% Approximately 57% of gaming machines nationally 720K active account wagering customers, Relationships with >3,500 CUSTOMERS 3M registered players Sky available in 2.6M households. venues nationally 550M Lotteries and Keno tickets FY18 TRANSACTIONS 1.1B bets taken N/A sold Notes: 8 (1) Share of Tabcorp revenues based on FY18 pro-forma results (Wagering & Media including Ubet) (2) Market share for Wagering & Media includes (Ubet)
OU R BU SIN ESS H AS A N ATION AL FOOTPR IN T QUEENSLAND NORTHERN TERRITORY 908 1,029 899 34,000 1002 NEW SOUTH WALES 60 21 1,300 62 2,110 1,815 1,336 94,000 2,347 WESTERN AUSTRALIA ACT 422 2,400 47 39 48 130 58 LEGEND VICTORIA WAGERING MEDIA LOTTERY KENO GAMING SOUTH AUSTRALIA TASMANIA (venues) (venues) (outlets) (outlets) SERVICES 807 601 805 17,900 845 (EGMs supported) 361 615 615 10,000 369 140 82 2,400 150 9 Note: Venue numbers reflected as at 30 June 2018
W E AR E A VALU ED PARTN ER FOR GOVER N MEN TS, IN D U STRY, R ETAIL VEN U ES AN D C OMMU N ITIES I N D U S T R Y & G O V E R N M E N T C O M M U N I T Y ~$2B • Voluntary community contributions of $1.9M in FY18 Federal • Partnerships with charities including National Jockey Taxes Trust & Prostate Cancer Foundation ~$1B • Corporate drought relief package of $600K State • Additional $500K contribution from unclaimed ~$0.7B Wagering lotteries prizes / Lotteries Taxes • Supports the 50- 50 Foundation’s Play for Purpose charity lottery, which provides cost-effective fundraising to some of Australia’s most valuable community Commissions to Racing & sports State & Federal organisations local business industry payments Govt taxes Notes: All figures include 100% of VICTAB JV 10 Pro-forma including Tatts from 1 July 2017
OU R BU SIN ESS IS D IVER SIFIED AC R OSS GEOGR APH IES AN D PR OD U C TS AN D SEC U R ED BY LON G - D ATED LIC EN C ES TABCORP LICENCE / AUTHORISATION PORTFOLIO 2100 2098 2097 2072 2064 2064 2062 LICENCE S EX PIRY 2052 2052 2050 2050 2047 2035 2032 2032 2028 2027 2024 2022 2021 2020 SA QLD NSW ACT TAS NT VIC QLD SA NSW NT VIC TAS ACT SA NSW QLD VIC NSW QLD NT 1 2 2 GAMING WAGERING LOTTERIES KENO SERVICES Notes: 1 Tasmania lotteries operate under renewable five-year permits linked to long-dated Queensland and Victorian licences 2 Indefinite rolling renewal capability 11
R EGU LATORY C H AN GES AR E SU PPORTIN G A MOR E SU STAIN ABL E IN D U STRY AN D POSITIVE GR OW TH OU TLOOK R E G U L A T O R Y R E F O R M H A S C R E A T E D A B E T T E R R E G U L A T E D A N D M O R E S U S T A I N A B L E G A M B L I N G I N D U S T R Y SYNTHETIC POINT OF CONSUMER PROTECTIONS ADVERTISING RESTRICTIONS LOTTERIES BAN CONSUMPTION TAXES • • • • Synthetic lotteries are products Wagering point of consumption Amendments to Australia's From March 2018, new restrictions where customers bet on the (POC) taxes are levied based on gambling legislation have been prohibited gambling advertising outcome of a lottery rather than the location of the customer introduced or proposed to improve during live television, radio buying a ticket and directly consumer protection and online sports broadcasts • Introduced in SA in July 2017. participating in the draw between 5:00am and 8:30pm • Queensland’s POCT regime These include prohibitions on Live broadcasts of racing events • Betting on the outcome of a lottery wagering operators offering online commenced 1 October 2018. NSW, and the advertising of lotteries or Keno draw will be prohibited in-play betting, credit and certain Victoria, the ACT and WA have are exempt following amendments to the forms of inducements announced a POCT on wagering Interactive Gambling Act passed by revenues from 1 January 2019 • The prohibition of wagering the Federal Senate in June 2018. advertising on roads, public • Tabcorp is working with The ban comes into effect on 9 transport and associated governments and the racing January 2019 infrastructure in Victoria has industry to ensure the significant been implemented fees and taxes already paid under its state wagering licences are recognised, in line with the principles announced 12
W E AR E MOBILISIN G AC R OSS TH E GR OU P W ITH C LAR ITY OF PU R POSE AN D A STR ATEGIC FOC U S V I S I O N THE TRUSTED GAMBLING ENTERTAINMENT COMPANY EXCITEMENT WITH INTEGRITY P U R P O S E S T R A T E G I C P I L L A R S BRILLIANT COLLABORATIVE SUPERB CUSTOMER LED EXPERIENCES EXECUTION PARTNERSHIIPS We understand our customers, engage We leverage the powerful combination We take pride in simply and efficiently We love winning with our partners with them personally and create of our venues, digital and live event delivering with excellence through aligning our interests and deep products they love channels to deliver amazing collaboration experiences O U R F O U N D A T I O N S OUTSTANDING PEOPLE AND TEAMS COMMITMENT TO COMMUNITY AND INTEGRITY LEADING TECHNOLOGY AND INNOVATION We are the best place to work, and we We are trusted by governments, regulators We create value through our unique unlock the potential of our people to deliver and our communities to grow responsible combination of thought leadership and superb customer experiences gambling sustainably delivery excellence 13
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