The Lottery Corporation 2026 full-year financial results
The Lottery Corporation Limited (ASX: TLC) announces its results for the full year ended 30 June 2026 (FY26).
FY26 Results Overview
• Resilient underlying performance in an especially unfavourable period for jackpots (a 1 in c.45 year outcome)1
• Victorian licence extension materially strengthens portfolio duration and certainty
• Continued growth in Keno
• Disciplined cost management and reduced operating expenses
• Full year dividend maintained at 16.5 cps, fully franked: reflects confidence in health of the business and growth
outlook
• New, leaner and more accountable operating model supports the next stage of the Company’s strategy and
acceleration of growth
• Strong cash generation, de-risked licence portfolio and reaffirmed strong investment-grade credit rating2
The Lottery Corporation Managing Director & CEO, Wayne Pickup, said:
"The Lottery Corporation's infrastructure-like qualities were again evident in FY26, underpinned by our long-dated
licences, trusted brands, scaled distribution and reliable cash generation. The recent 40-year extension of the
Victorian lottery licence has structurally lowered the risk of our business, extended the duration of our licence
base and reinforced our strong investment-grade credit rating.
"In an especially unfavourable period for Powerball and Oz Lotto jackpots - a 1 in c.45 year outcome - the Board's
confidence in the health of the business and growth outlook enabled us to look through these fluctuations and
maintain the dividend for shareholders in line with the prior year.
"Where we control the levers, we performed well, with healthy retention of price increases in our two largest
games - Powerball and Saturday lotto - and continued growth in base games and Keno. Our expense discipline
was structural, not a one-off. It gives us room to reinvest in digital, AI, product and customer capability.
"Jackpot outcomes are inherently variable and even out over time, so the underlying momentum in pricing, basegame participation and digital share matters more to long-term sustainable growth and returns for shareholders
than any single year's run of draws.
"Most importantly, FY26 is the year we have reset the business with a new operating model, refreshed strategy
and clear growth levers. This plan, centred around the proposition 'Where Australia Comes to Play' is now live,
giving us an executable path to unlock the full growth potential and value of the business as a digitally-led
entertainment platform."
https://wcsecure.weblink.com.au/pdf/TLC/03122718.pdf