and an 11.9 per cent rise in earnings before interest, tax, depreciation and amortisation to $694 million in the 12 months to June 2022.Macquarie predicts a 10 per cent rise in EBITDA to $393 million, above the consensus forecast of $372 million for the first half of the 2022-23 financial year.
Van der Merwe says she is looking at new products and offshore expansion, while stressing that the immediate goal is to complete the separation from Tabcorp and maintain business momentum. Whether Lottery Corp puts its toe in an offshore market will depend, at least in part, on the tenure of the licence available and freedom for the company to develop products itself.
Lottery Corporation chief executive Sue van der Merwe and chairman Steven Gregg ring the ASX bell to commemorate the first day of trading in May 2022.At university, having dismissed law, van der Merwe tried her hand at finance before switching to marketing and economics. People talk about lotteries as something that provides a lift in their day. It gives people something to hope for and to look forward to.Van der Merwe then inquired about a senior brand manager role at a company that sold household name products. When the recruiter informed the young executive that it was a lottery business called Golden Casket, not an FMCG business, Van der Merwe had to do some homework.
, which had operations in Victoria, Tasmania, Northern Territory and the Australian Capital Territory.“I thought, as soon as an FMCG marketing role comes up, I want to get back into FMCG. That was until I met my first winner and saw the joy somebody gets from winning the lottery prize. I also went to a hospital and saw beneficiaries of lottery funding,” she says.
“For lotteries, it’s very much been very much at the low-harm end of the gambling. The association of problem gamblers with lottery products is extremely low,” she says. Indeed, Lottery Corp says some investors who refused to invest in the combined Tabcorp group on environmental, social and governance grounds can now buy shares in the group.
Brings a level of incompetence rarely seen in organisations of this size