Lottery Corp's Licence Renewal Delivers Necessary Downgrade -- Market Talk

Dow Jones

05/06

Lottery Corp's licence extension in Australia's Victoria state results in "the downgrade we had to have," says Jefferies analyst Kai Erman. Lottery Corp has secured a 40-year extension of its lottery licence in Victoria. Jefferies says this security is positive. Still, Lottery Corp paid A$1.15 billion to extend the licence. Jefferies downgrades its FY 2027 EPS forecast by 14%, citing higher net invested capital and amortization. It retains a hold call on Lottery Corp's stock. "At 18x FY 2027 Ebitda we remain sidelined on valuation grounds and lack of clarity on incremental earnings opportunities beyond portfolio improvements which have been a feature since demerger" from Tabcorp, Jefferies says. Lottery Corp ended Tuesday at A$5.57.(david.winning@wsj.com; @dwinningWSJ)

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May 05, 2026 19:30 ET (23:30 GMT)

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Lottery Corp has secured a 40-year extension of its lottery licence in Victoria. Jefferies says this security is positive. Still, Lottery Corp paid A$1.15 billion to extend the licence. Jefferies downgrades its FY 2027 EPS forecast by 14%, citing higher net invested capital and amortization. It retains a hold call on Lottery Corp's stock. \"At 18x FY 2027 Ebitda we remain sidelined on valuation grounds and lack of clarity on incremental earnings opportunities beyond portfolio improvements which have been a feature since demerger\" from Tabcorp, Jefferies says. Lottery Corp ended Tuesday at A$5.57.(david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 05, 2026 19:30 ET (23:30 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lottery Corp's Licence Renewal Delivers Necessary Downgrade -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLottery Corp's Licence Renewal Delivers Necessary Downgrade -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-05-06 07:30</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  <a href=\"https://laohu8.com/S/LTRCF\">Lottery Corp</a>'s licence extension in Australia's <a href=\"https://laohu8.com/S/VCCTF\">Victoria</a> state results in \"the downgrade we had to have,\" says Jefferies analyst Kai Erman. Lottery Corp has secured a 40-year extension of its lottery licence in Victoria. Jefferies says this security is positive. Still, Lottery Corp paid A$1.15 billion to extend the licence. Jefferies downgrades its FY 2027 EPS forecast by 14%, citing higher net invested capital and amortization. It retains a hold call on Lottery Corp's stock. \"At 18x FY 2027 Ebitda we remain sidelined on valuation grounds and lack of clarity on incremental earnings opportunities beyond portfolio improvements which have been a feature since demerger\" from Tabcorp, Jefferies says. Lottery Corp ended Tuesday at A$5.57.(david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 05, 2026 19:30 ET (23:30 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TLC.AU","symbol_name":"Lottery Corporation Limited","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2633737019","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2633737019","pubTimestamp":1778023800,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Lottery Corp's licence extension in Australia's Victoria state results in \"the downgrade we had to have,\" says Jefferies analyst Kai Erman. Lottery Corp has secured a 40-year extension of its lottery licence in Victoria. Jefferies says this security is positive. Still, Lottery Corp paid A$1.15 billion to extend the licence. Jefferies downgrades its FY 2027 EPS forecast by 14%, citing higher net invested capital and amortization. It retains a hold call on Lottery Corp's stock. \"At 18x FY 2027 Ebitda we remain sidelined on valuation grounds and lack of clarity on incremental earnings opportunities beyond portfolio improvements which have been a feature since demerger\" from Tabcorp, Jefferies says. Lottery Corp ended Tuesday at A$5.57.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"TLC.AU":"Lottery Corporation Limited","BK7078":"赌场与赌博"},"translate_title":"彩票公司的执照更新带来了必要的降级——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TLC.AU":0.9},"content_text":"Lottery Corp's licence extension in Australia's Victoria state results in \"the downgrade we had to have,\" says Jefferies analyst Kai Erman. Lottery Corp has secured a 40-year extension of its lottery licence in Victoria. Jefferies says this security is positive. Still, Lottery Corp paid A$1.15 billion to extend the licence. Jefferies downgrades its FY 2027 EPS forecast by 14%, citing higher net invested capital and amortization. It retains a hold call on Lottery Corp's stock. \"At 18x FY 2027 Ebitda we remain sidelined on valuation grounds and lack of clarity on incremental earnings opportunities beyond portfolio improvements which have been a feature since demerger\" from Tabcorp, Jefferies says. Lottery Corp ended Tuesday at A$5.57.(david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 05, 2026 19:30 ET (23:30 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}