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class="hfeed site" id="page"> Home Facebook-f Twitter Youtube Search Close The following posts are written by contributors and do not necessarily represent the views of ZitoBox. $4.5m Of These Rewards Have Already Been Paid $4.5m Already Paid Start With $10 Free - Coupon Code: TV PLAY NOW PLAY NOW PLAY NOW PLAY NOW The following posts are written by contributors and do not necessarily represent the views of ZitoBox. November 8, 2022 Lottery Corporation reports higher revenue at Annual General Meeting “Having come off the highs of the COVID tailwind from early in FY22, we are pleased with our performance to date,” CEO and managing director Sue van der Merwe said.
Retail continues to generate most of the Lotteries turnover, but growth in digital lifted total online volumes to 39 per cent.
Keno growth was driven by venues trading without the restrictions in NSW, Victoria and the ACT. Queensland turnover is up 18 per cent.
Ms van der Merwe noted Powerball had a slow start to the year in terms of jackpot activity but “that took a nice, positive turn” when Powerball rolled through to a $160 million jackpot and delivered another record turnover result.
Powerball attracted 135,000 new registered players and at peak times – roughly three hours before the draw – Lottery Corp was selling 8700 games per minute, Ms van der Merwe said.
At its full-year results in August, Lotteries reported earnings before interest, tax, depreciation and amortisation (EBITDA) rose 11.9 per cent to $694 million, driven by growth in the lotteries business.
Lotteries revenue grew 10.3 per cent to $3.26 billion, which the company said was down to a “favourable jackpot run” and the shift to digital. More than a third of the segment’s turnover was digital – compared to a quarter in the previous year – powering growth despite COVID-19 lockdowns.
It also helped offset the toll the lockdowns had on the keno business in NSW, where the company’s licence does not allow digital sales. While digital sales are allowed in Queensland and Victoria, NSW is the largest keno market.
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