The Lottery Corporation has announced a 2 per cent increase in revenue, reaching $1.82 billion for the half-year ending December 31. However, the company’s profit experienced a slight decrease of 1.4 per cent, settling at $173.3 million. An interim dividend of 8¢ per share was declared, matching the figure from the previous corresponding period. The Lottery Corporation is an Australian gambling company that operates lotteries and Keno. It was spun off from Tabcorp in 2022 and runs various lottery games across Australia.
The period marked the lowest jackpot activity since the demerger from Tabcorp, with Powerball and Oz Lotto jackpots falling 14.2 per cent compared to the previous year. This reduction led to a turnover decrease of approximately $400 million. Despite the jackpot shortfall, growth in base games, strategic portfolio management, and a recent price adjustment for Saturday Lotto helped cushion the financial impact.
Digital sales continue to gain traction, now representing 41.2 per cent of total Lotteries turnover, a rise from 40.4 per cent in the first half of the previous financial year. Keno demonstrated strong performance, with revenue increasing by 7.0 per cent to $199.3 million. Earnings before interest, taxes, depreciation, and amortisation for Keno also rose by 6.2 per cent.
Wayne Pickup, the newly appointed chief executive, outlined the company’s strategic priorities, emphasising digital expansion, disciplined operational execution, and continued growth within regulated local markets.
