The Lottery Corp Ltd

TLC: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$6.00	Rlx	Dflkvrgr

Lottery Corp: A Turbulent Year Ends on a Strong Note

Angus Hewitt

Jun 28, 2024

Fiscal-year 2024 has been a rollercoaster for lottery volumes. Wide-moat Lottery Corp’s core jackpot games—Powerball, Saturday Lotto, and Oz Lotto—together accounting for around three quarters of turnover, had a very slow start to the year, with an unfavorable jackpot sequence failing to stoke demand for tickets. But this changed dramatically as we approached the end of calendar 2023, with a AUD 100 million Oz Lotto jackpot in December 2023 followed by a record AUD 200 million Powerball in February 2024. Since then, volumes have kept up, with another AUD 150 million jackpot in May 2024 rounding out the fiscal year.

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