The Lottery Corporation has a better-than-expected pool of cash and that, according to analysts at Citi, means more jackpots for customers buying Powerball tickets.
The investment bank upgraded the ASX-listed gaming group, recommending clients buy shares, saying it expected The Lottery Corporation to accelerate its Powerball jackpot sequence – offering more money quicker – to offset a potential fall in sales. If it does this, it would increase the chance of winning a bigger sum of money.
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Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
