Key highlights

  • The Lottery Corporation reported FY26 Revenue of $3,582.5 million, down 2.7%, and EBITDA before significant items of $736.1 million, down 1.8%, in its 19 August 2026 release.
  • NPAT before significant items was $342.5 million, and the full-year Dividend was maintained at 16.5 cents, fully franked.
  • A 40-year extension of the Victorian lottery licence was recorded.

Shares in The Lottery Corporation Ltd (ASX:TLC) ended 21 October 2026 at $5.33, down 0.37%. The S&P/ASX 200 Consumer Discretionary [XDJ] stood at 3,741.90, a rise of 0.34% (12.50 points), while the S&P/ASX 200 [XJO] was at 8,831.30, a rise of 0.16%, and the All Ordinaries at 8,956.60, a rise of 0.14%, at 5:00 pm GMT+11. The Lottery Corporation operates Australian lottery brands including Powerball, Saturday Lotto and Keno.

What The Lottery Corporation does

The Lottery Corporation Limited operates lotteries and Keno in Australia under long-dated government licences, selling through retail outlets and digital channels. Its games include Powerball, Oz Lotto, Saturday Lotto and Keno.

FY26 financial results

In an ASX release dated 19 August 2026, The Lottery Corporation reported revenue of $3,582.5 million, down 2.7%, variable contribution of $1,032.0 million, down 2.3%, and operating expenses of $295.9 million, down 3.6%. EBITDA before significant items was $736.1 million, down 1.8%, EBIT before significant items was $622.3 million, down 4.2%, and NPAT before significant items was $342.5 million, down 6.3%. Significant items after tax of $57.9 million reduced NPAT including significant items to $284.6 million, down 22.1%. EPS before significant items was 15.4 cents.

Jackpots and licence

The company said jackpot outcomes were especially unfavourable, estimated as a one in about 45 year outcome, with no $100 million Powerball jackpot for the first time since FY21 and no $50 million Oz Lotto jackpot for the first time since FY17. These outcomes reduced revenue by about $350 million and variable contribution by about $90 million. Lotteries revenue was $3,218.2 million, down 3.3%. Price changes in Powerball and Saturday Lotto partly offset the effect, and Keno continued to grow. The release also records a 40-year extension of the Victorian lottery licence and a reaffirmed BBB+ Credit rating from S&P Global.

Dividend and operating model

The full-year ordinary dividend was maintained at 16.5 cents per share, fully franked. The company described a new operating model and refreshed strategy built around digital, AI, product and customer capability.

Sector context

Consumer discretionary companies depend on household spending, travel, leisure and housing activity, and they are tracked through the S&P/ASX 200 Consumer Discretionary index, which closed at 3,741.90, up 0.34%, on 21 October 2026 alongside a 0.16% rise in the S&P/ASX 200 to 8,831.30. Lottery turnover varies with jackpot sizes, which the release says are variable and tend to even out over time.

Risks and uncertainties

Revenue and Earnings are sensitive to jackpot outcomes, which are unpredictable. NPAT fell, significant items reduced statutory profit, and price retention, regulation, licence terms and competition from digital gaming can affect results. Interest costs rose 4.1%.

Catalysts to watch

Items to watch include jackpot frequency, digital share, Keno growth, the effect of the new operating model and the half-year result.

Wrapping up

The Lottery Corporation’s 19 August 2026 release recorded lower earnings in a low-jackpot year, a maintained dividend and a licence extension. The next result will show jackpot trends.