The prominent Australian gaming corporation, Jumbo Interactive, witnessed a remarkable 29% surge in its earnings, reaching AU$52.8 million (US$38.1 million) during the latter half of 2022, ending December 31st. This impressive growth was primarily attributed to a significant upswing in lottery ticket purchases.
This robust financial outcome was propelled by a substantial 41% increase in overall transaction worth, approaching AU$3.28 billion. This underscores the company’s commanding presence within the Australian lottery sector. Jumbo’s principal lottery retail operation remained the cornerstone of its success, yielding AU$46.7 million in revenue.
Furthermore, the company emphasized the noteworthy expansion of its emerging software-as-a-service (SaaS) and managed services units. These divisions, responsible for furnishing technology and assistance to fellow lottery providers, are progressively becoming pivotal to Jumbo’s trajectory. SaaS revenue experienced a twofold increase, bolstered by fresh agreements such as the decade-long partnership with Lotterywest.
Jumbo’s accomplishments were partially influenced by a favorable sequence of lottery wins. The initial six months of 2022 saw 23 Powerball/Oz Lotto grand prizes surpassing AU$1.5 million, contrasting with a mere 15 during the corresponding period in 2021. These more substantial jackpots enticed a greater number of participants, consequently boosting sales figures.
Mike Veverka, the originator and CEO of Jumbo, conveyed his profound contentment with the company’s achievements, highlighting the positive momentum observed across all facets of the business.
Lottery participation surged due to enticing prize pools and our commitment to player satisfaction.
Concurrently, our enterprise software and service offerings are experiencing steady, natural expansion. Our Australian software clientele are uniformly contributing and fulfilling projections.
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