0223 GMT - The strategies that Lottery Corp.'s retiring CEO will leave behind have potential to unlock capital management by the Australian lottery operator, according to its bull at Citi. Analyst Adrian Lemme tells clients in a note that initiatives to enhance the company's game portfolio and its proactive approach to seeking an early renewal of its Victoria state lottery license are all positive. He doesn't see any reason to worry about potential factors behind CEO Sue van der Merwe's departure, pointing out that she has worked in the industry for 35 years and led Lottery Corp. through its demerger from Tabcorp. Citi has a buy rating and A$5.60 target price on the stock, which is down 3.1% at A$12.88. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 23, 2025 22:23 ET (02:23 GMT)
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