Lottery (ASX:TLC) secured an agreement with the Victorian State Government for a 40-year extension of the public lottery license, according to a Tuesday filing with the Australian bourse.
The license is extended to June 30, 2068, with the company paying an upfront premium of AU$1.15 billion to the state, the filing said.
Historically, the license has been offered on 10-year terms and was set to expire on June 30, 2028, per the filing.
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