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Australia’s Jumbo Interactive sees 29% revenue growth for 1H 2022

Jumbo Interactive’s revenue increased by 29% to AU$52.8m (US$38.1m) for the first half of the 2022 fiscal year.

OzMoney

The Australian lottery business has seen healthy growth across most key performance metrics, including group total transaction value (TTV), which is up 41% year-on-year to nearly AU$328m.

Lottery retailing was the mainstay of Jumbo’s business for 1H, delivering AU$46.7m in underlying revenue, though its emerging software-as-a-service (SaaS) and managed services business segments grew considerably.

Revenue from these areas amounted to AU$4m and AU$2.1m for roughly 145% and 41% growth respectively, while SaaS TTV more than doubled year-on-year.

Jumbo attributed its SaaS revenue growth to the scaling up of existing customers in Australia, as well as having a full six months of Lotterywest, with whom it signed a ten-year agreement in late 2020 for its online platform and related services.

What’s more, there were 23 Powerball/Oz Lotto jackpots greater than or equal to AU$15m in 1H22, compared to only 15 for 1H21, with the average value of these jackpots up 11%.

“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,” remarked Jumbo Interactive’s Founder and CEO Mike Veverka.

“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.”

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