Sue van der Merwe appears unfazed by an aggressive push from online operators that are giving Australians access to international jackpots.
Net profit fell 23.6 per cent caused by weak turnover from jackpot gamesThe Lottery Corporation chief executive Sue van der Merwe said the aggressive marketing of offshore lotteries had not had a financial impact on the $11.5 billion giant, but claimed the advertising push was concerning newsagencies that take a cut from local competitions.
“We haven’t seen any impact on our business at this point,” Ms van der Merwe said. “What we have seen is a material step-up in the advertising very aggressively across the country from those entities. Revenue for the 2023 financial year grew 7.2 per cent on a reported basis to $3.5 billion, and EBITDA before significant items climbed 17 per cent to $713.2 million. The increase was driven by a 16.3 per cent increase in Keno turnover.
Ms van der Merwe said the business was focused on its own product offering and distribution channels, rather than international opportunities or offshore providers. “We’re going to be focused on always looking ahead and making sure we do what we need to do,” she said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Search called off for missing Indonesian crewman from same boat as rescued AustraliansRescuers end their search for a missing Indonesian crewman one week after a boat with seven on board, including four Australians, hit bad weather off Sumatra.
Read more »
'A tough ask': Qatar Airways saga feared to almost double air fares for AustraliansAustralia’s aviation sector could be crippled with skyrocketing air fares after the government’s rejection of increased Qatar Airways flights, industry experts have warned.
Read more »
‘Australians know what this means’: Germany warns against relying on BeijingGermany’s foreign minister has praised Australia for serving as a role model on how to withstand attempted Chinese economic coercion.
Read more »
‘Australians know’: Germany warns against relying on BeijingGermany’s foreign minister has praised Australia for serving as a role model on how to withstand attempted Chinese economic coercion.
Read more »
Government’s green agenda costing AustraliansSky News Business Editor Ross Greenwood says cost of living will continue to rise as the government pushes towards net zero. Mr Greenwood’s comments come as the government considers putting green tariffs on steel and cement imports. “This is crazy stuff so we can't even get the cheapest goods around the world to support our economy to support our lives, and all of that just raises inflation and therefore keeps your interest rates higher,” he told Sky News Host Andrew Bolt.
Read more »