11/03/2025 09:41

Lottery Corp (TLC) $4.81

When times are tough, hope reigns supreme, and people buy lotto tickets. TLC owns/operates brands like Powerball and OZ Lotto. As we’ve witnessed over the last few weeks/months, not much fazes TLC, and it's certainly a stock that will let investors sleep from a capital preservation perspective.

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18/07/2023 09:25

Lottery Corp Ltd (TLC) $5.15

We see 2H23 revenue weakness as a result of bad luck as opposed to a sign of worsening demand or poor execution e.g. in 2H23E to date, Powerball jackpots have been won 42% of the time versus a historical average of 27%, with a high win rate limits the opportunity for TLC to accumulate larger jackpots and attract jackpot-elastic customers. However, mathematics will prevail over time and we see more $50-$100mn jackpots advertised moving forward which is good news for TLC. We have felt the stock has looked expensive for a while, it’s currently trading on 32.4x Est 2023 earnings again making cash a viable alternative.

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30/09/2022 09:37

Lottery Corp Ltd (TLC) $4.23

TLC is a $9bn Lotteries & Keno business that was spun out of Tabcorp earlier in the year, delivering its first set of FY22 results last month which included revenue up over 11% to $3.27bn and a NPAT of $373mn.  The stocks not overly cheap trading on 27.8x Est 2023 earnings and it’s hard to see a significant catalyst that will propel the stock higher into 2023 - although gambling businesses love a recession!

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