Citi sees Australia's Lottery Corp revenue growing in 2H24

Lottery

04/04/2024 21:12

** Citi sees an upside to gaming company Lottery Corp's
 TLC.AX  2H24 lottery revenue, assuming no further large
jackpots in 2H
    ** Brokerage forecasts lottery revenue growth of ~28% YoY in
2H24, ahead of Visible Alpha consensus of 24%
    ** Citi sees ~50% and ~30% 2H24 revenue growth in Powerball
and Oz Lotto, two of company's main lottery games
    ** Brokerage says its lottery tracker indicates ~65% YoY
increase in revenue from TLC's four main lottery games for March
quarter
    ** Six of 14 analysts rate stock "buy" or higher and eight
"hold"; their median PT is A$5.45 – LSEG data
    ** Stock had risen 5.2% YTD, as of last close

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))