The Lottery Corporation (ASX:TLC) has reported full-year results for the year ended 30 June 2026, disclosing NPAT before significant items of $342.5 million and a full-year ordinary dividend of 16.5 cents per share, fully franked, comprising an interim dividend of 8.0 cents per share and a final dividend of 8.5 cents per share.

Key Points

  • Revenue of $3,582.5 million for FY26, compared with $3,682.7 million in FY25, a change of $(100.2) million or (2.7%)
  • EBITDA before significant items of $736.1 million, compared with $749.3 million in FY25, a change of $(13.2) million or (1.8%)
  • NPAT before significant items of $342.5 million; NPAT including significant items of $284.6 million
  • Full-year ordinary dividend maintained at 16.5 cents per share, fully franked
  • S&P Global reaffirmed a BBB+ credit rating on 4 May 2026

FY26 Group Financial Results

The Lottery Corporation disclosed revenue of $3,582.5 million for the full year ended 30 June 2026, compared with $3,682.7 million for FY25. Variable contribution was $1,032.0 million against $1,056.4 million in the prior year. Operating expenses were $295.9 million, compared with $307.1 million in FY25. EBIT before significant items was $622.3 million, compared with $649.4 million in FY25. Interest expense was $123.3 million and tax expense was $156.5 million. Earnings per share before significant items were 15.4 cents, compared with 16.4 cents in FY25. Significant items after tax amounted to $(57.9) million, with no significant items recorded in FY25.

Victorian Licence Extension and Operational Achievements

According to the filing, the company secured a 40-year extension of its Victorian licence during FY26. The company completed new terminal rollouts for New South Wales, the Australian Capital Territory, and Queensland. Integrated retail and digital experiences were introduced through Check & Collect and retailer-linked QR codes. Successful game changes were implemented for Saturday Lotto and Powerball, with retention recorded within or above target range. The filing also noted enhanced configuration of in-venue Keno collateral and the establishment of foundations for a refresh of the Keno technology platform.

Operating Model and Credit Position

The filing states that a new operating model became effective from 1 July 2026 and that operating expenses were managed to reflect the low jackpot environment during the period. The company disclosed that existing bank facilities were extended and funding commitments for the Victorian licence were secured. S&P Global reaffirmed a BBB+ credit rating on 4 May 2026, according to the filing. The company described jackpot game combined turnover for FY26 of $3,254 million as reflecting a probability equivalent to approximately a 1-in-45-year outcome, based on internal modelling.