The Lottery Corporation

The Lottery Corporation is the Australian lottery and keno operator that was demerged from Tabcorp in 2022, listing on the ASX under the code TLC on 24 May and floating with a market value of around 10.5 billion Australian dollars. It runs the country's national draw games under The Lott, the umbrella brand covering Tatts, NSW Lotteries, Golden Casket, SA Lotteries and Lotterywest, alongside its keno business. The demerger separated two businesses with very different economics: lotteries are long-licence, low-volatility and government-facing, while wagering is competitive and margin-pressured, and splitting them let each be valued on its own terms rather than blended.

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