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The Lottery Corporation Limited (ASX:TLC)

ALERT: Price-sensitive ASX Announcement for TLC
Current share price for TLC : $5.200 -0.26 (-4.76%)+
Announcement
Release
5 May 2026 8:20AM
Price at Release
$5.460
Full Release
download
Summary
The Lottery Corporation Limited (The Lottery Corporation), through its subsidiary Tattersall’s Sweeps Pty Ltd, has secured a landmark 40-year extension to its Public Lottery Licence in Victoria, Australia, extending its term to 30 June 2068. This agreement with the Victorian State Government marks a significant increase from the typical 10-year terms and strengthens The Lottery Corporation's national licence portfolio, highlighting its strategic position as a long-term provider of lotteries in Victoria. The corporation will pay an upfront premium of $1,145 million, reflecting consistent valuation and return parameters with previous acquisitions. This extension aligns with the company's broader strategy to enhance its licence profile, providing long-term earnings certainty and supporting shareholder returns with changes in dividend policy. Funding arrangements include debt facilities to ensure financial stability post-payment. The extension also delivers benefits for Victorian lottery retailers and maintains a strong retail network.
Key Points
  • 40-year Victorian Lottery Licence extension secured
  • Extension improves risk profile of lotteries business
  • Upfront premium payment of $1,145 million
  • Licence term extended to 30 June 2068
  • Strengthens national licence portfolio
  • Next major licence renewal in 2050
  • Debt-funded payment with financial stability maintained
  • Dividend policy revised to support shareholder returns
  • Benefits for Victorian lottery retailers
  • Strategic position as long-term provider secured
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.