The Lottery Corp Ltd

TLC: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$7.00	Hxxt	Dmfnjfqlb

Lottery Corp Earnings: A Strong Year Unlikely to Repeat in Fiscal 2025

Angus Hewitt

Aug 21, 2024

Fiscal-year 2024 was a bumper year for wide-moat Lottery Corp. Sales beat our expectations, led by outsized 15% growth in the core lottery segment. Oz Lotto and Powerball tickets, which surged in the second half on favorable jackpot sequences, more than offset modest sales declines across most base games. Higher commissions and higher margin digital sales underpinned operating margin expansion in lotteries. Underlying EPS jumped roughly 20% to AUD 18 cents per share, compared with our AUD 16 cents per share forecast.

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