The Lottery Corporation (ASX: TLC) announces a significant leadership milestone with Wayne Pickup’s board appointment. The Australian lottery company board update marks the completion of a comprehensive succession process. Wayne Pickup joins TLC board as Managing Director and Chief Executive Officer, effective 9 December 2025.
The appointment follows Mr Pickup’s initial role as Chief Executive Officer and observer to the Board from 27 November 2025. This strategic move positions the Company for its next growth phase under experienced lottery industry leadership.
New Director Brings Global Lottery Expertise
Wayne Pickup joins TLC board following the receipt of all necessary regulatory approvals. The Company first announced its selection as incoming Managing Director and CEO in July 2025. Mr Pickup commenced as Chief Executive Officer and observer to the Board on 27 November 2025.
The formal director appointment on 9 December 2025 enables Mr Pickup to assume full responsibilities. His elevation to the Board represents the culmination of a rigorous global search process. The Company evaluated both internal and external candidates before selecting Mr Pickup.
Australian Lottery Company Board Update Strengthens Leadership
The Australian Lottery Company board update reflects careful succession planning by The Lottery Corporation. Chairman Dr Doug McTaggart authorised the announcement to the ASX. The Board welcomed Mr Pickup’s extensive international lottery experience spanning 25 years.
This TLC executive leadership change ensures continuity whilst introducing fresh perspectives. Mr Pickup previously held senior positions at Allwyn and Lotto New Zealand. His global experience positions him to guide The Lottery Corporation through evolving market conditions.
Industry Outlook and Market Context
The Lottery Corporation operates Australia’s leading lottery and Keno businesses. The Company holds exclusive or long-dated licences across all Australian states and territories, excluding Western Australia. Revenue for FY25 reached AUD 3,748.9 million with EBITDA of AUD 749.3 million.
The lottery sector demonstrates resilient characteristics despite economic headwinds. Digital channel growth continues with 41.8% of lotteries’ turnover now transacted digitally. The Company serves approximately 9.5 million active lottery customers through over 7,100 retail distribution points.
Wayne Pickup’s Background and Experience
Wayne Pickup brings 25 years of lottery industry expertise to The Lottery Corporation. His career spans multiple international markets, including roles at leading lottery operators. Most recently, he served as an executive at Allwyn, a major European lottery operator.
Prior experience includes senior leadership at Lotto New Zealand where he contributed to operational excellence. His international perspective combines witha deep understanding of regulated lottery markets. This experience proves valuable as The Lottery Corporation pursues growth initiatives.
TLC Executive Leadership Change Strategy
The TLC executive leadership change commenced with Sue van der Merwe’s retirement announcement in March 2025. Ms van der Merwe served as Managing Director and CEO since the Company’s ASX listing in May 2022. She guided the business through separation from Tabcorp Holdings Limited.
The transition process included Mr Pickup acting as observer before the full Board appointment. This approach ensured a comprehensive handover of responsibilities. Ms van der Merwe worked closely with the Board and Mr Pickup to ensure operational continuity.
Strategic Priorities for New Leadership
Wayne Pickup joins TLC board during a period of strategic evolution. The Company continues investing in product innovation and game portfolio management. Digital transformation initiatives remain central to enhancing customer experiences across all channels.
Key strategic pillars include driving immediate priorities, developing long-term capabilities, and discovering new opportunities. The Company continues investing in technology infrastructure, including new retail terminals and customer data platforms. Responsible play remains fundamental to operations.
Financial Performance and Dividend Policy
The Lottery Corporation delivered resilient FY25 results despite challenging economic conditions. Net profit after tax reached AUD 365.5 million. The Company declared total ordinary dividends of 16.5 cents per share, representing 100% of net profit after tax.
Operating cash flows strengthened to AUD 559 million, up 9% year-on-year. The Company maintains a dividend policy targeting 70% to 90% of net cash flow from operating activities less sustaining capital expenditure. This framework supports sustainable dividend growth.
Share Price Performance
The Lottery Corporation shares currently trade at AUD 5.265 per share on the ASX. The stock has traded within a 52-week range of AUD 4.690 to AUD 6.000 per share. The Company maintains a market capitalisation of AUD 11.75 billion, reflecting its position as Australia’s leading lottery operator.
Investor sentiment reflects confidence in the Company’s strategic direction. The Wayne Pickup joins TLC board announcement signals continuity in executing growth strategies. The current share price positions the stock within its recent trading range.
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FAQs
Q1: When did Wayne Pickup join The Lottery Corporation board?
Wayne Pickup was appointed as a Director of The Lottery Corporation on 9 December 2025.
Q2: What roles does Wayne Pickup hold at The Lottery Corporation?
Wayne Pickup serves as Managing Director, Chief Executive Officer, and Director of The Lottery Corporation.
Q3: When did Wayne Pickup commence as CEO?
Wayne Pickup first commenced as Chief Executive Officer and observer to the Board on 27 November 2025.
Q4: Who authorised the appointment announcement?
The Lottery Corporation Chairman, Dr Doug McTaggart, authorised the announcement for release to the ASX.
