The Lottery Corporation

What The Lottery Corporation does

The Lottery Corporation Limited (ASX: TLC) is Australia's largest lottery operator and one of the highest-performing lottery businesses globally, headquartered in Brisbane and operating in every Australian state and territory except Western Australia. The company was created through a 2022 demerger from Tabcorp and became a standalone, pure-play publicly listed lottery operator on the Australian Securities Exchange under the ticker TLC. Its portfolio includes the consumer-facing brands The Lott and Keno, encompassing the iconic game products Powerball, Oz Lotto, TattsLotto, and Lucky Lotteries Super Jackpot, all delivered through a regulated state-by-state franchise model that provides exclusive operating rights. The underlying platform comprises a digital lottery infrastructure supporting online ticket sales through thelott.com, a mobile application, and the keno.com.au platform, alongside player account management via The Lott Members Club and associated digital security infrastructure; distribution is omni-channel across a national retail network (newsagents, convenience stores, dedicated lottery outlets) and growing digital channels.

The company generates revenue primarily through transactional lottery ticket sales across its game portfolio, with H1 FY2026 group revenue of AUD $1.8 billion and EBITDA of AUD $367 million, and FY2025 revenue of approximately AUD $2.47 billion with EBITDA of approximately AUD $462 million (implied ~18.7% margin). The customer base is composed of approximately 12 million Australian lottery consumers participating through small-ticket transactions across retail and digital channels, with no enterprise customer concentration. Strategic priorities articulated in the company's disclosures include accelerating digital entertainment evolution, with a stated target to lift digital revenue penetration to 20-25% within three to five years, supported by targeted hiring of technology and digital product talent. Capital structure is characterized by a net cash position, fully franked dividends (AUD $0.08 per share interim dividend at a 103% payout ratio disclosed), and a recently secured 40-year extension of the Victorian lottery licence that materially underwrites long-duration cash flow visibility, though the Victorian Auditor-General has opened an investigation into whether the licence extension delivered value for taxpayers.

Name

The Lottery Corporation

Legal name

The Lottery Corporation Limited

Website

https://thelotterycorporation.com

Company type

Public

Founded year

2022

Operating status

Operating

Headcount range

501–1,000 employees

Short description

The Lottery Corporation is Australia's largest pure-play lottery operator, managing The Lott, Keno, Powerball, and Oz Lotto brands across all states and territories except Western Australia, serving approximately 12 million consumers through national retail and digital channels.

Ownership category

akta.pro rank

Product category

Lottery Services

NAICS

Other Gambling Industries (713290)

SIC

Services-Amusement & Recreation Services (7900)

akta.pro primary industry

Lottery Operators (Government & Private Licensed) (MPAEAFAA)

akta.pro secondary industries

Draw-Based Lottery Management (Number Games, Keno as Lottery) (MPAEAFAE), Lottery Data, Analytics & Responsible Gaming Tools (MPAEAFAJ)

Keywords

• Lottery games
• Lottery ticket sales
• Online lottery platform
• Regulated lottery operator
• Lottery franchise services

Headquarters

HQ city

Brisbane

HQ country

Australia

HQ region

Oceania

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Lottery ticket sales: Revenue generated through sale of lottery tickets including Powerball, Oz Lotto, TattsLotto, and Keno games across retail and digital channels. The company operates under a regulated franchise model across Australian states and territories.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

The Lottery Corporation operates Australia's largest portfolio of lottery games under regulated franchise licences across all states and territories except Western Australia. It sells tickets for draw-based lotteries (Powerball, Oz Lotto, TattsLotto, Lucky Lotteries Super Jackpot) and the Keno numbers game through a national retail network (newsagencies, convenience stores, dedicated outlets) and digital channels (thelott.com, keno.com.au, The Lott Members Club). Revenue is generated through ticket sales, with a portion of proceeds returned to players as prizes and a share distributed to state/territory governments and community initiatives.

Product overview

The Lottery Corporation operates as Australia’s pure-play lottery operator following its 2022 demerger, managing a portfolio of brands and games through a regulated franchise model across Australian states and territories (excluding Western Australia). The company’s primary consumer-facing brands are The Lott and Keno, which encompass iconic lottery products including Powerball, Oz Lotto, TattsLotto, and Lucky Lotteries Super Jackpot. These games are delivered through strong retail and online networks, with the company targeting digital revenue penetration of 20–25% within three to five years.

Differentiator

Problem solved

Functional benefit

Brands

• The Lott: Official home of Australia's lotteries including Powerball, Oz Lotto, and TattsLotto.
• Keno
• Powerball
• Oz Lotto
• TattsLotto

Products and services

• The Lott Official consumer-facing platform of Australia's lotteries, serving as the unified brand under which Powerball, Oz Lotto, TattsLotto and Lucky Lotteries Super Jackpot are sold via retail outlets and digital channels for individual Australian lottery players.
• Keno A continuous-draw numbers game operated by The Lottery Corporation through retail venues and online at keno.com.au, available to individual Australian consumers seeking frequent lottery-style entertainment.
• Powerball Australia's flagship jackpot lottery game offering large multi-million-dollar prize pools, sold nationally under The Lott brand via retail and online channels to individual players.
• Oz Lotto Nationally recognized lottery game with regular jackpot draws, managed under The Lott brand and available through retail outlets and online to Australian consumers.
• TattsLotto Traditional Saturday-draw lottery game operated under The Lott brand for Australian lottery players purchasing tickets via retail or digital channels.
• Lucky Lotteries Super Jackpot Lottery game featuring a super jackpot prize structure with dedicated jackpot draws (e.g., Super Jackpot draw 11081), offered to Australian consumers via The Lott retail and digital channels.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Jumbo Interactive: ASX-listed Australian online lottery reseller and SaaS provider to lottery operators; directly comparable as a digital-first Australian lottery distributor serving many of the same end customers as The Lott.
• Allwyn: Pan-European regulated lottery operator that runs the UK National Lottery and other European national lotteries under long-duration licences; comparable as a publicly listed, pure-play licensed lottery operator with a similar regulated monopoly structure.
• INTRALOT: Greece-headquartered lottery systems and operations vendor serving licensed lotteries worldwide; comparable as a regulated-lottery operator with both lottery management contracts and licensed operations, overlapping with TLC's draw-based and digital lottery business.
• Lottomatica Group (IGT Lottery): Italian lottery and gaming operator within the IGT ecosystem, running the Italian national lottery and sports betting under licence — directly comparable as a regulated, draw-based lottery operator with retail and digital distribution.
• FDJ (Française des Jeux): French national lottery operator, listed on Euronext Paris, operating draw-based games, instant tickets and online betting under a regulated monopoly — the closest international analogue to The Lottery Corporation's licensed-lottery business model.

Broad incumbents

• Brightstar Lottery (formerly Scientific Games Lottery): Global lottery technology, instant-game content and services provider to many of the world's largest lotteries; comparable as a key ecosystem participant supporting lottery draw systems and game content similar to what TLC operates.
• Tabcorp Holdings: Former parent of The Lottery Corporation prior to the 2022 demerger; now an Australian wagering, media and gaming services incumbent. Overlap is limited to legacy familiarity but the businesses are now clearly separated.
• International Game Technology (IGT): Global lottery and gaming technology provider operating regulated lottery contracts and gaming machines; comparable as a broad incumbent providing lottery technology infrastructure that underpins draw-based lottery operations worldwide.

Emerging players

• Pollard Banknote: Canadian instant-ticket (scratch) printer and lottery supplier with growing iLottery platform; comparable as a participant in the broader lottery ecosystem where TLC also operates instant jackpot and Keno-style games.
• Jackpocket: US digital lottery courier app enabling online ticket purchase for state lotteries; comparable as a digital-only lottery distribution channel that competes for the same consumer lottery wallet in a regulated but online-first format.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/thelotteryco
• LinkedInlinkedin.com/company/the-lottery-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Lottery Corporation