The Lottery Corporation (TLC) AGM 2026 summary

Opening remarks and agenda

• Chairman confirmed a shareholder quorum, the notice was taken as read, and resolutions would be decided by poll.

• Formal business covered FY26 reports, director re-elections, the remuneration report, CEO performance rights and renewal of the proportional takeover provision.

• From next year, AGMs are planned as hybrid meetings in Brisbane, with online shareholders able to ask questions and vote.

• Acknowledged Traditional Custodians and First Peoples and reaffirmed commitment to reconciliation; announced $100,000 each for Kindness Factory and Foodbank NSW & ACT.

Financial performance review

• FY26 revenue was $3,577m; EBITDA before significant items was $736.1m, reported EBITDA $710.4m, NPAT before significant items $342.5m and reported NPAT $284.6m.

• Unusually low jackpot activity, expected only once in 45 years, reduced turnover by an estimated $700m versus model expectations; Powerball and Oz Lotto missed usual large jackpot thresholds.

• Base-game turnover grew 5.6%, digital share of lottery sales rose 90 bps, Keno recorded another record result and operating costs fell through cost discipline.

• Lottery and Keno delivered $5.1bn in prizes across ~200m winning entries; payments also included $1.7bn in taxes and duties, $637m in commissions, and $5.2m in community contributions and donations.

Board and executive committee updates

• Wayne Pickup became Managing Director and CEO in November after Sue van der Merwe's retirement; he brought 25 years of global lottery experience.

• Harry Boon retired at the conclusion of the AGM; Tim Poole will succeed him as chair of the People and Remuneration Committee.

• Doug McTaggart and Megan Quinn stood for re-election; proxy indications suggested both resolutions would pass.

• The board comprises Independent Chairman Doug McTaggart and independent non-executive directors Stephen Morro, John O'Sullivan, Tim Poole, Anne Brennan, Megan Quinn and Harry Boon.