The Lottery Corporation says its Division 1 jackpot offers have fallen below modelled outcomes in the first three months of FY27. At its annual general meeting on 14 October, the Australian operator said Powerball had rolled to an AU$100m (US$70m) offer for the 15 October draw.
Chief Executive Wayne Pickup said the offer would be the first Powerball jackpot at that level in 16 months. The company's statistical model suggests roughly three AU$100m offers in a 12-month period.
The opening quarter follows an unusually quiet FY26 for the operator's largest jackpots. Powerball had no AU$100m offer during that financial year, the first such gap in five years, while Oz Lotto had no AU$50m offer for the first time in nine years.
At the meeting, the company estimated that the FY26 jackpot pattern reduced lottery turnover by about AU$700m against its model. That figure concerns ticket sales, not recognised revenue. Its annual report separately estimated a roughly AU$350m revenue impact from the weaker jackpot mix.
The report put FY26 group revenue at AU$3,576.6m, down 2.9% year-on-year. Reported EBITDA was AU$710.4m, while EBITDA before significant items reached AU$736.1m, down 1.8%. Statutory net profit after tax fell 22.1% to AU$284.6m. The company's preferred measure of net profit before significant items was AU$342.5m, down 6.3%.
Management pointed to 5.6% growth in base-game lottery turnover during FY26 and a 90-basis-point rise in the digital share of lottery sales. The AGM presentation did not disclose Q1 FY27 revenue or earnings, so the early-year assessment is limited to jackpot offers.
The operator is targeting H2 2027 for changes to Oz Lotto's price and game matrix, subject to approvals.
In August, the operator maintained its 16.5-cent annual dividend despite a 107% payout ratio as it reported the previous financial year's results.
An AU$100m Powerball offer is scheduled for 15 October; the outcome of that draw was unknown at the time of the AGM
