jumbo-interactive-expecting-revenue-to-exceed-expectations

Jumbo Interactive Expecting Revenue to Exceed Expectations

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Digital lottery company Jumbo Interactive has provided an update on its preliminary FY22 results which will be released to the market on August 26. The preliminary results, which remain subject to Board and external audit review, reflect strong double digit growth across all key performance metrics.

Mike Veverka, CEO and Founder of Jumbo, said: “We are very pleased with the strong growth that we have achieved in FY22 off the back of an improved jackpot cycle. FY22 has been a pivotal year for Jumbo as we build the foundations to successfully execute on our global growth strategy. Lottery Retailing is exceptionally well positioned to benefit from the ongoing shift to digital and the new OzLotto game launched in May 2022 while the integration of Stride and StarVale will help us build scale in our Managed Services and SaaS segments globally.”

The domestic jackpot environment remains supportive with 43 Powerball/OzLotto jackpots greater than or equal to $15m in FY22, compared to 38 in FY21, with the average value of these jackpots up 28%. The second half of the financial year benefitted from a $120m Powerball jackpot in February 2022, the first jackpot greater than $100m since September 2019. This, however, was followed by significantly lower jackpot activity in March and April 2022, with peak monthly Jackpots of $20m, before increasing to $80m and $60m in May and June respectively.

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