Wayne Pickup
MD, CEO & Director

Good morning, and thank you for joining today’s call on The Lottery Corporation’s FY 2026 Financial Results. I am Wayne Pickup, the company’s MD and CEO, and I am joined by our CFO, Adam Newman. We will walk through the investor presentation lodged with the ASX this morning, then open the line for questions. Since I joined The Lottery Corporation 9 months ago now, you may have heard me say that it operates from a position of strength with a privileged market position and strong fundamentals. But while that is true, we need to position the business for the next chapter of growth to evolve from being a lottery operator to a digitally-led entertainment platform. To achieve that, we have refreshed the strategy and implemented a new operating model. New teams are in place, and we are moving at pace to execute.

We are preserving what has been successful over many, many years, but modernizing it for how Australians want to play and engage today as customers move online and demand more. That creates a clear opportunity, underpinned by a simple vision, to be the place where Australia comes to play. Looking back on the first year, 3 things stand

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More than 600 bags of frozen dog food are facing a recall after FDA testing prompted by a consumer complaint found salmonella contamination.

Connecticut-based Oma’s Pride issued a recall for one lot of Woof Complete Canine Chicken Recipe, the company announced on Monday.

A total of 639 bags are affected by the recall effort. The impacted products have a manufacturing date of Jan 27, 2026, and a best-by date of Jan. 27, 2029. The recalled product is a raw dog food sold in a six-pound gusseted stand-up pouch containing 12 individually-wrapped, eight-ounce vacuum-sealed portions.

The recalled lot of dog food was distributed to retailers and wholesalers in 11 states: Arizona, California, Indiana, Kentucky, Louisiana, Maryland, Nevada, New Jersey, New York, Pennsylvania and Virginia, as well as directly to consumers through online orders. The products were distributed between Feb. 12 and May 15 of this year.

RECALL ISSUED FOR DOG AND HORSE MEDICATION AFTER GLASS FIBER FOUND IN VIALS

Connecticut-based Oma’s Pride issued a recall for one lot of Woof Complete Canine Chicken Recipe. (FDA)

Oma’s Pride ships its products to consumers across 48 states, with the exception of Alaska and Hawaii.

The recall was initiated after the FDA received a consumer complaint. The agency then collected and analyzed a sample of the product, which tested positive for salmonella.

Oma’s Pride said it is continuing an investigation to determine the source and root cause of the contamination.

Three illnesses in dogs have been reported in connection with the dog food. No human illnesses have been reported.

Salmonella can affect animals eating the dog food, the company said, adding that there is risk to people from handling contaminated pet products, especially if they have not thoroughly washed their hands after touching the food or any surfaces exposed to it.

The FDA collected and analyzed a sample of the product, which tested positive for salmonella. (iStock / iStock)

Pets with salmonella infections may be lethargic and have diarrhea, fever and vomiting. Some pets may only have decreased appetite, fever and abdominal pain. Infected but otherwise healthy pets can be carriers and infect other animals or people.

Owners with pets who have consumed the recalled product and are showing these symptoms are urged to contact a veterinarian.

Healthy people infected with salmonella are advised to monitor themselves for symptoms, including nausea, vomiting, diarrhea, abdominal cramping and fever. Salmonella can cause additional ailments such as arterial infections, endocarditis, arthritis, muscle pain, eye irritation and urinary tract symptoms.

People showing these signs after having contact with the recalled dog food should contact a healthcare provider.

POPULAR PET FOOD RECALLED OVER POSSIBLE SHARP METAL AND PLASTIC CONTAMINATION

Three illnesses in dogs have been reported in connection with the dog food. (iStock / iStock)

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Consumers who purchased the affected dog food are instructed to stop feeding it to their pets immediately, safely dispose of it and contact Oma’s Pride for a refund.

They should also wash and sanitize pet food bowls, cups and storage containers.

“Oma’s Pride is conducting further investigation to better understand this finding,” the company said. “The health and safety of pets and the people who care for them is our highest priority. We are proud of the food we make, and we remain committed to producing high-quality, biologically appropriate pet food. We will continue to update our customers as more information becomes available.”

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Business News subscriptions are used by executives, investors, consultants and professionals who need to stay informed and make better decisions about the WA market. When you subscribe you’ll get

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• Special publications and industry reports
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Data & Insights is a research tool built specifically for the WA market. It draws on more than 30 years of Business News reporting, updated regularly to reflect what’s happening now. Use it to:

• Look up detailed profiles of WA companies, including financials, directors and ownership
• Find decision-makers and track their career movements
• Research live and completed projects across WA industries
• Monitor deals, appointments and market activity
• Access industry rankings and league tables

Data & Insights is updated daily by our dedicated research team, which uses the latest announcements, ASX filings and editorial coverage to keep our person, company, list and project records up to date.

Business News welcome all opportunities to make our dataset accurate, complete and current, so if you have an update request, please email the team at
general@businessnews.com.au, and we’d be happy to assist.

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is part of every subscription. It’s your personalised view of Business News. You can follow the companies, people, sectors and projects that matter to you, and get a news feed and alerts tailored to your interests. You can save articles to read later and retain only what you need.

Only subscribers have full access to all content on the Business News website.

If staying informed about the WA economy is part of your job, and/or you’re looking for networking opportunities in WA, Business News is built for you.

Business News subscribers are:

• Executives and directors tracking competitors, clients and market movements
• Investors and advisers researching companies, deals and industry trends
• Consultants and professionals staying across sectors relevant to their clients
• Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

The BN Weekender Email contains a wrap of the Business News from the week that was, highlighting the top stories in each area of WA business.
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A strong software development team is not necessarily a large one. The better approach is to match the team’s skills to the product, give people clear responsibilities, and fix technical bottlenecks before adding more headcount.

There is still strong demand for software talent. The U.S. Bureau of Labour Statistics reports that employment of software developers is expected to increase by 15.8% between 2024 and 2034, adding 267,700 jobs. Median annual pay for software developers reached $133,080 in May 2024. (Bureau of Labor Statistics)

For companies hiring in 2026, the challenge is not simply finding developers. It is building a team that can deliver and scale software without creating unnecessary complexity.

Define the Software Development Team Before Hiring

The best hiring decisions start with the product, not the job title. Before writing a job description, identify what the team needs to maintain and improve.

Consider:

1. Current programming languages and frameworks
2. Product and development roadmap
3. Existing technical gaps
4. Infrastructure and cloud requirements
5. Testing and security responsibilities
6. Expected workload over the next 6 to 12 months
7. Decisions that require senior technical ownership

This process also determines whether the business needs a generalist, a specialist, or a senior technical lead.

A small product may work well with a few full-stack developers. A growing platform may need separate front-end, back-end, QA, DevOps, and technical leadership responsibilities.

Build a Balanced Software Development Team

A balanced team brings together different technical skills:

• Front-end developers handle interfaces, browser performance, accessibility, and client-side functionality.
• Back-end developers work on application logic, APIs, databases, authentication, and server-side systems.
• Full-stack developers cover both sides of the application and can be useful in smaller teams.
• QA engineers test software and prevent defects from reaching production.
• DevOps engineers handle areas such as cloud infrastructure, deployment automation, monitoring, and reliability.
• Technical leads or architects deal with larger decisions around system design, security, scalability, and technical standards.

The structure should change as the product grows. A five-person startup team will not need the same setup as a 50-person engineering department.

When Does a Business Need a DevOps Engineer?

Businesses should consider dedicated DevOps expertise when infrastructure and deployment issues begin affecting development speed, reliability, or cost.

Common signs include:

• Manual or unreliable deployments
• Poor production monitoring
• Rising cloud costs
• Slow incident response
• Developers spending too much time on infrastructure
• Difficulty scaling applications

A DevOps engineer can handle CI/CD, infrastructure as code, cloud environments, containers, monitoring, automation, and production reliability.

When these problems become persistent, it may be time to hire devops engineer with experience that matches the company’s cloud platform and operating environment.

What to Look for When Hiring a PHP Developer

PHP hiring should be based on the requirements of the application, as well as the candidate’s years of experience. Look for developers who understand PHP, Laravel or Symfony, databases, APIs, testing, security, and the existing codebase.

It is also worth checking how candidates approach real development problems. Ask how they would improve slow queries, structure an API, refactor legacy code, handle security issues, or test a new feature. These questions give a better view of practical ability than a list of technologies on a CV.

When you hire a PHP developer, make sure their experience matches the project’s current stack and future plans. A developer who can work with the existing system while improving its reliability and maintainability will usually bring more value over someone who simply knows the language.

Build a Hiring Process That Tests Real Skills

A CV can show where someone has worked, but it does not show how they will handle an unfamiliar technical problem.

A more effective hiring process for software developers should pair experience with practical assessment.

A practical hiring process should include:

1. A technical screening against the actual role.
2. A discussion about previous projects.
3. A realistic technical exercise.
4. Questions about debugging and trade-offs.
5. A conversation about communication and teamwork.
6. References where appropriate.

It’s not the point to trick candidates with challenging technical questions. It’s to find out how they solve problems when there isn’t a clear answer.

Hire for Engineering Judgement

A good developer is more than just a coder. They also need to make sensible decisions around performance, security, cost, and maintainability.

This is important as development teams adopt new tools. In Stack Overflow’s 2025 Developer Survey, 84% of respondents said they were using or planning to use AI tools in their development process. But 46% are sceptical about the accuracy of AI output, compared to 33% who trust it. (Stack Overflow Developer Survey).

The lesson for employers is so simple. New tools can speed up development, but experienced engineers still need to review code, spot risks, and decide what is suitable for production.

In-House vs External Development Teams

There is no single approach that works for every business. An in-house team offers strong product knowledge and close collaboration, but hiring specialists can take time and cost more.

External developers provide access to a wider talent pool and specialist skills but can bring challenges around communication, time zones, and long-term ownership.

Consider the budget, project length, technical requirements, security needs, and internal capacity before choosing the best way forward. In some cases, a hybrid model can also work well.

Use Data Before Adding Headcount

Hiring decisions should be based on the company’s own numbers as well as wider labour-market data.

BLS figures provide the labour-market context, while the Stack Overflow data shows how developer workflows are changing. (Bureau of Labor Statistics)

Businesses should also track their own time-to-hire, developer turnover, project delays, workload, and unfilled-role costs. Those figures can reveal where another hire likely will have the greatest impact.

Scale the Team by Solving Bottlenecks

Sometimes, another developer isn’t the solution.

• If features are taking too long, it may be a capacity issue on the development side.
• If releases keep failing, maybe it is better to invest in DevOps.
• If customers are reporting too many bugs the gap could be with QA.
• If projects are stalling because of technical decisions, it shows that the team may need senior engineering leadership.

As the team grows, documentation, testing, code reviews, CI/CD, monitoring, and clear ownership become increasingly important.

The Right Team Beats a Larger Team

A strong software development team starts with a clear understanding of the work ahead. Identify the gaps, hire to fill them, test practical skills, and monitor performance.

The best team is rarely the one with the most people. It is the one with the right skills and enough technical discipline to keep delivering the tangible goods as the business grows.

Yes. Corporate subscriptions are available for teams and organisations, with discounted rates as user numbers increase. Pricing starts from $1,625 + GST per user.
Get in touch
to discuss the right option for your organisation.

Business News subscriptions are used by executives, investors, consultants and professionals who need to stay informed and make better decisions about the WA market. When you subscribe you’ll get

• Unlimited access to WA’s most trusted business journalism
• Data & Insights — detailed profiles of WA companies, people, projects and deals
• MyBN — a personalised feed based on the companies, people and sectors you follow
• Special publications and industry reports
• Daily and weekly email newsletters

Data & Insights is a research tool built specifically for the WA market. It draws on more than 30 years of Business News reporting, updated regularly to reflect what’s happening now. Use it to:

• Look up detailed profiles of WA companies, including financials, directors and ownership
• Find decision-makers and track their career movements
• Research live and completed projects across WA industries
• Monitor deals, appointments and market activity
• Access industry rankings and league tables

Data & Insights is updated daily by our dedicated research team, which uses the latest announcements, ASX filings and editorial coverage to keep our person, company, list and project records up to date.

Business News welcome all opportunities to make our dataset accurate, complete and current, so if you have an update request, please email the team at
general@businessnews.com.au, and we’d be happy to assist.

MyBN
is part of every subscription. It’s your personalised view of Business News. You can follow the companies, people, sectors and projects that matter to you, and get a news feed and alerts tailored to your interests. You can save articles to read later and retain only what you need.

Only subscribers have full access to all content on the Business News website.

If staying informed about the WA economy is part of your job, and/or you’re looking for networking opportunities in WA, Business News is built for you.

Business News subscribers are:

• Executives and directors tracking competitors, clients and market movements
• Investors and advisers researching companies, deals and industry trends
• Consultants and professionals staying across sectors relevant to their clients
• Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

The BN Weekender Email contains a wrap of the Business News from the week that was, highlighting the top stories in each area of WA business.
Sign up for free.

We’re happy to help.
Get in touch
and our team will come back to you.

Steak ‘n Shake, the fast-food chain embracing Health and Human Services Secretary Robert F. Kennedy Jr.’s Make America Healthy Again (MAHA) movement, announced that it will launch a new “Protein Steakburger” next month.

The restaurant chain unveiled the Protein Steakburger, along with a Double Steakburger Double Cheese, with both menu items set to launch Sept. 1.

“Real ingredients. Real food. The Protein Steakburger consists of two 100% grass-fed, grass-finished Steakburgers,” the company wrote. “It’s the perfect meal after a hard workout.”

The announcement comes amid Steak ‘n Shake’s broader push toward what the company has described as simpler and more transparent ingredients.

STEAK ’N SHAKE SHAKES UP POPULAR ‘PATRIOT MILKSHAKE’ WITH NEW, EDIBLE TWIST AVAILABLE ONLY IN 2026

Steak ‘n Shake has embraced principles associated with the Make America Healthy Again movement as it makes changes to its ingredients and menu. (iStock / iStock)

Steak ‘n Shake said the Protein Steakburger contains 530 calories, 31 grams of protein and 6 grams of carbohydrates. The Double Steakburger Double Cheese contains 690 calories, 31 grams of protein and 38 grams of carbohydrates.

Images released by the company show the Protein Steakburger served with lettuce in place of a traditional bun, while the Double Steakburger Double Cheese is served on a traditional bun.

In a previous social media post, Steak ‘n Shake said it was embracing “MAHA principles” as it embarked on a “mission to change the landscape of fast food with healthier options.”

“We are the only national chain offering 100% grass-fed, grass-finished beef and 100% beef tallow fries,” the company wrote. “It is not only better tasting but also better for you!”

SWIG’S ‘DIRTY SODA’ BOOM GROWS BEYOND UTAH AS INVESTOR TOUTS ‘STARBUCKSIFICATION’ OF SOFT DRINKS

Steak ‘n Shake is launching its Protein Steakburger and Double Steakburger Double Cheese on Sept. 1 as the chain continues revamping its menu. (Steak ‘n Shake via X)

The new burgers come months after Steak ‘n Shake tapped Michael Boes in April as its first-ever chief MAHA officer, an executive role the company said is “dedicated to advancing nutritional integrity, ingredient transparency and the healthiness of our products.”

Boes, who previously served as a senior advisor at HHS, said at the time that fast food does not have to mean processed or artificial menus, but rather “real, simple and delicious” food.

Steak ‘n Shake framed the hire as part of a broader effort to return to its roots.

Steak ‘n Shake’s new Protein Steakburger features two 100% grass-fed, grass-finished steakburgers and contains 31 grams of protein, according to the company. (iStock; Steak ‘n Shake via X / Unknown)

“The move marks a major step in the company’s efforts to restore the original spirit of American fast food: food that is simple, real and delicious,” the company said.

The move also received praise from President Donald Trump, who shared the company’s post and wrote: “Awesome.”

CALIFORNIA PIZZA KITCHEN CO-FOUNDER OPENS UP ABOUT FAMOUS CHAIN’S WILD RISE, BANKRUPTCY AND COMEBACK

Health and Human Services Secretary RFK Jr. visited a Steak ‘n Shake location in 2025.  (Steak ‘n Shake via X / Unknown)

Boes discussed Steak ‘n Shake’s embrace of the MAHA movement during an interview with Fox News last month, arguing that consumers increasingly want more natural ingredients.

“The reality is people want this,” Boes said. “It’s this ode to what the food environment was 50, 60 years ago, what my grandfather, my parents enjoyed. I think people want that. No one ever demanded these chemicals and highly processed seed oils. It was never implemented due to taste. It was profits. And we wanted to put a stake in the ground on being an American company and delivering the best food for Americans.”

The new menu items also drew praise from some social media users.

“Amazing option!” one user wrote. “I told my oldest two (now at college) if they get hungry and opt for fast food, head to a Steak ‘n Shake since you use tallow and grass-fed beef. Appreciate your fast-food new healthy ingredients and menu.”

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Steak ‘n Shake has switched to cooking fries and other fried menu items in 100% beef tallow as part of its broader ingredient overhaul. (Getty Images)

In recent months, Steak ‘n Shake has switched to cooking fries, tater tots and other fried items in 100% beef tallow, eliminating seed oils from those products. The chain has also moved to 100% Wisconsin butter in certain applications, offered Coca-Cola made with cane sugar as an alternative to high-fructose corn syrup and introduced A2 milk products.

FOX Business has reached out to Steak ‘n Shake for additional information.

Fox News Digital’s Deirdre Bardolf contributed to this report.

Market Review

Munis rebounded. After declining slightly in the first quarter, municipal bonds (munis) rebounded to deliver a solid second-quarter gain. Attractive municipal bond yields and a healthy supply/demand backdrop helped support the asset class.