Jumbo Interactive revenue up 29% for H1

The Australian lottery firm has shared its financial results for the first half of its 2021-22 financial year.

Australia.- Jumbo Interactive Limited has announced that revenue for the first six months of the 2021-22 financial year was up 29 per cent year-on-year to AU$52.8m (US$38.1m). The main source of revenue was retail lottery which generated a total of AU$46.7m, up 23.6 per cent year-on-year, mainly due to higher player activity.

Software-as-a-service (SaaS) revenue was up 69.1 per cent to AU$2.4m. Jumbo signed a 10-year agreement to provide software services to Lotterywest, the Western Australian State Government lottery, in November.

The rest of the revenue came from managed services, which increased 40.8 per cent year-on-year to AU$2.1m. The main contribution there came from Gatherwell UK’s lottery business.

Jumbo noted that the company’s total transaction value, which includes a halving of the total value of goods sold and services rendered, rose 4.1 per cent from AU$232.8m to AU$327.9m.

Jumbo Interactive CEO and founder Mike Veverka said: “We are very pleased with the growth that we have achieved this half, across all our operating segments, and the positive momentum across the business.

“Lottery Retailing continues to perform exceptionally well, underpinned by the improved jackpot cycle and our focus on player engagement and retention. Our SaaS and managed services segments continue to demonstrate good organic growth, with all our Australian SaaS clients contributing on a full run-rate basis.”

Last October, the company appointed Nigel Atkinson as UK General Manager to lead its growth strategy in the European market. In January, the Australian lottery firm acquired 100 per cent of StarVale Group, a UK external lottery manager (ELM) and digital payments company that serves over 850,000 active lottery players across over 45 charities and non-profit organisations.