Australia’s The Lottery Corporation (TLC) will part ways with Chief Financial Officer (CFO) Adam Newman, who took on the role in 2022.
Newman oversaw the TLC’s demerger from Tabcorp on 1 June 2022 to become a standalone listed company and Australia’s biggest provider of lotteries.
He also led the company through its inaugural Australian debt raising, supporting the funding of the Victorian Public Lottery Licence extension, and overall strengthening of TLC’s financial flexibility.
“It has been a privilege to help build TLC as a listed company and to work with the finance team, the executive and the Board,” Newman said. “I’m proud of what we have achieved and remain committed to supporting a smooth handover to my successor.”
Leveraging his extensive executive experience, Newman will pursue a portfolio career, including board and non-executive director roles.
He will officially leave TLC on 1 July 2027, with the Board to undertake a successor appointment process in the meantime.
Wayne Pickup, Chief Executive Officer of TLC, added: “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.
“On behalf of the Board and the executive team, I thank Adam for his leadership and contribution to TLC and wish him every success in the next chapter of his career.”
The Lottery Corporation no stranger of scrutiny
It comes as welcome positive news for TLC, which has seen itself at the centre of a number of controversies in 2026.
The abovementioned Victorian lottery licence in particular stirred up opposition leaders who accused the company of doing a “secret deal” with the Labor government to secure the 40-year contract.
Ellen Sandell, Leader of the Victorian Greens, told the media that the current government should be focusing more on taxing gambling than doing deals with it.
“If this Labor Government had any integrity and guts they would properly tax the gambling corporations to pay for the things we need, not do dodgy deals with them.”
More recently, TLC was also accused of lobbying the government to implement a ban on foreign-matched lotteries in its latest round of regulatory reforms.