The Lottery Corporation CFO steps down on July 2027

• The Lottery Corporation CFO Adam Newman will step down from his role on July 1, 2027.
• Shares in the gaming company dropped slightly down 0.2% following the market announcement.
• Newman is leaving to pursue board and non-executive director roles across various industries.

The Lottery Corporation (ASX:TLC) announced that CFO Adam Newman will step down from his position on July 1, 2027.

Newman has managed the finance operations since 2022 after leading the group through its demerger from Tabcorp.

"Adam has made a significant contribution to TLC since the demerger from Tabcorp, helping to establish the company as a standalone ASX-listed business and building the financial foundations to support our long-term success through a period of significant change,” said The Lottery Corporation Managing Director and CEO Wayne Pickup.

Newman will stay in the role until July 2027 to assist the board during the search for his successor.

Following the announcement, the The Lottery Corporation share price was down at $4.72.

The business recently executed an $800 million Australian medium-term note issuance to support debt flexibility.

The company stated that the capital management strategy is expected to fund the extension of its Victorian Public Lottery Licence.