Australia's Lottery Corp rises after securing 40‑year extension of key lottery licence

Lottery

05/05/2026 02:24

** Shares of Lottery Corp TLC.AX rise as much as 3.9% to A$5.68, logging their strongest intraday percentage gain since February 18

** The lottery operator leads the consumer discretionary sub-index .AXDJ higher, defying a 0.7% decline across the sector

** Company says it has secured a 40‑year extension of its Victorian public lottery licence after exclusive talks, agreeing to pay the state an upfront premium of A$1.15 billion ($823.17 million)

** Extension pushes the Victorian public lottery term to June 2068, cementing TLC's exclusivity in the state and aligning it with its other long‑dated licences

** Through its unit, the company has held Victoria's public lottery licence since 1954, traditionally renewed on 10‑year terms and previously due to expire on June 30, 2028

** YTD, TLC has climbed 9.3%, sharply outperforming the AXDJ, which is nursing a 15.1% decline

($1 = 1.3970 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))