The Lottery Corporation has posted a 1.8% decline in full year revenue to $1,738.3 million but a 25.7% increase in net profit after tax (including significant items) to $217.4 million.

Oz Lotto® game change increased the probability of large jackpots which helped to deliver $70m and $90m jackpots. Significant taxes to governments ($885 million) and commissions to retailers and venue partners ($347 million. 

Solid business performance, with revenue resilient at $1,885m (1H23: $1,920m) and the benefits of a diversified and balanced game portfolio delivering EBITDA1 of $399m (1H23: $409m).

The Lottery Corporation Managing Director & CEO, Sue van der Merwe commentary: “The first half of FY24 showcased the resilience of The Lottery Corporation’s diversified and balanced portfolio to deliver in softer economic conditions. The performance of our business was solid, driven by proactive initiatives and strategic management of the game portfolio as a whole. 

“During the half, we reaped the benefits of the change we made to Oz Lotto in 2022 to increase the probability of bigger jackpots. 

The $90m draw on Boxing Day was the biggest Oz Lotto jackpot in more than a decade. We have also seen strong retention of the Powerball price increase. “It was pleasing to see the benefits begin to flow from the other strategic initiatives we’ve implemented in recent years. 

Our retail partners are benefiting from the commission rate increase, which is also driving higher margins for us on digital sales. Having previously consolidated the significant gains made during the COVID era, digital share of turnover returned to growth during the period. “We have further initiatives in the pipeline to enhance the customer experience and drive growth. These include the newly evolved Weekday Windfall game and a digitally enhanced retail membership program. “Consistent with our purpose of making positive impacts, The Lottery Corporation’s operations generated substantial returns for state and territory governments and our small business partners, supporting their sustainability.”