Jumbo Interactive
| Publicly listed entity | |
| Traded as | ASX: JIN |
| Industry | Lotteries |
| Founded | 1995 |
| Headquarters | Brisbane, Australia |
Key people | Mike Veverka (Founder, CEO and Major Shareholder), David Barwick (Chairman) |
| Products | Lotteries, Interactive Technology |
| Revenue | A$24.1 million (FY2014) |
| Website |
www |
Jumbo Interactive Limited is an Australian corporation and re-seller of lottery games in Australia under agreement with Government Licensed Lottery Operator Tatts Group.[1] Jumbo Interactive operates ozlotteries.com, one of Australia's largest e-commerce websites retailing Australian lotteries, such as Saturday Lotto, Oz Lotto and Powerball. Jumbo Interactive is a publicly listed corporation on the Australian Stock Exchange (ASX:JIN).
History
Jumbo Interactive was founded by Mike Veverka in 1995 as a software developer and an Internet Service Provider in Queensland, Australia. In 1999, the Company listed on the Australian Stock Exchange as Jumbomall.com, a concept to provide e-commerce services to merchants around the globe wishing to sell products via the internet.
Focus shifted towards Internet lotteries when the Interactive Gambling Act was passed by the Australian Parliament in 2001. Starting with smaller state-based charity lotteries, the Company shifted to national lottery games with the acquisition of TMS Global Services in 2005. This business operated a lottery network since 1984 in various Pacific nations in agreement with Tattersalls. Jumbo acquired Manaccom, a software publisher, in 2007[2] and focus shifted towards the Internet and to the development of Oz Lotteries website, which continues to this day, having serviced in excess of 1.5 million customers.
In May 2017 Jumbo’s alliance with the largest and most dominant company in the Australian Gaming Industry, the Tatts Group, was strengthened, with the Tatts Group investing $15.6 million in Jumbo, and acquiring a 15% stake in Jumbo.
Operations
Jumbo is a leading digital retailer of official government and charitable lotteries, and operates the world’s best digital lotto experiences by developing engaging and entertaining purchase experiences across a range of digital platforms.
Jumbo Interactive has agreements with the Tatts Group to operate in New South Wales, Victoria, Northern Territory, South Australia and Fiji, offering a suite of lottery games conducted by the Tatts Group.
In 2015, Jumbo added charity lottery games to its product offering. Jumbo has direct contracts with some of the major Australian charity lotteries, including Surf Life Saving Lotteries, Mater Prize Home, and the Endeavour Foundation. The charity lottery games are complimentary to national lottery games, and their inclusion offers high growth potential for Jumbo.
Jumbo Interactive is a member of APLA (Asia Pacific Lottery Association), WLA (World Lottery Association) and NASPL (North American Association of State and Provincial Lotteries).
Jumbo Interactive plays an important role in the Australian lottery industry helping to raise money for government social initiatives such as education and health, and growing the market by offering customers an additional purchase source. Over $22 million of additional government duties were raised in FY2012, up from $17 million in FY 2011.
Financial Statements
At the end of financial year 2016, Jumbo Interactive's TTV (total transaction value) was $156 million. The company's flagship website www.ozlotteries.com continued its unbroken run customer growth since relaunch in 2005 with its database increasing by 10% even in a period of reduced jackpots.
Comparing like-for-like jackpots, sales are growing consistently, with the TTV for FY2017 reaching $142 million. The 2017 financial year saw Jumbo reach a Net Profit After Tax of $7.6 million on a continuing basis.
Jumbo’s share price has increased 67% in the past 12 months from July 2016.