Australia's Lottery Corp set for worst day in 5 weeks; Citi flags dour outlook

Lottery

04/07/2025 04:24

** Lottery Corp TLC.AX slips 2.4% to A$5.25; set for weakest session since May 30

** Stock second weakest performer on benchmark ASX200 index .AXJO, which is nearly flat

** Citi downgrades to "sell" from "buy", cuts PT to A$5 from A$5.60

** Expects FY25 EBIT of A$628 mln ($412 mln), down ~13% y/y

** Says like-for-like sales of co's game brand Powerball worsened in June; expects weakness to carry through to H1 FY26

** Tempers its outlook for increased Powerball turnover following game changes planned for late FY26

** TLC gains 1.7% so far this week, set for strongest weekly performance since mid-June

($1 = A$1.5235)

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))