Mallesons has advised The Lottery Corporation Limited (The Lottery Corporation) on its $1,145 million agreement with the Victorian State Government to extend its public lottery licence (Licence) for a further 40 years.
Historically, the Licence has been granted in 10-year terms and was due to expire on 30 June 2028. The early agreement of a 40-year extension provides long-term certainty and brings the Victorian licence into closer alignment with The Lottery Corporation’s other long-term state-based licences.
The extension follows a period of exclusive, bilateral negotiations and represents a significant milestone for The Lottery Corporation, securing its position as the long-term provider of public lotteries in Victoria.
Partner Patrick Gunning said:
“We were pleased to assist The Lottery Corporation to obtain this significant licence extension, which should contribute to long term earnings and growth potential. This is the first time that the Victorian Government has issued such a long-term lotteries licence, and we appreciated the opportunity to advise on ways to deliver enhanced certainty to an arrangement with a 40-year horizon.”
Mallesons advised The Lottery Corporation on the licence extension process and supporting licensing documentation.
The team was led by Mallesons Partners Patrick Gunning and Chair David Friedlander, with support from Solicitor Marie Veinberg.
