Australia’s lottery provider is planning a global expansion.
The provider has announced its intention to enter the US, Canada and UK sales markets in response to its goal of increasing sales to AU $ 1 billion. Australian online lottery provider Jumbo Interactive reported that for the current fiscal year, compared to the same period in 2019, the amount revenue increased by 8.7%.
The company reportedly reported total sales of A $ 348.6 million in the 12 months to June 30, with revenues rising from $ 65.2 million to $ 71.2 million. ISP CEO Mike Veverka said the quarantine has helped attract players to the online segment.
Key lottery business Australia Lotteris increased its revenue by 6.9% year-on-year to $ 68.7 million, driven by a $ 260K investment from the fast-growing software business.
It is noted that with the support of Jumbo Interactive, a total of five charity lotteries are held: Endeavur Foundation, Mater Prize Home Lottery, Deaf Services, Multiple Sclerosis QLD and Classics for e Cause, which annually bring about $ 140 million in ticket sales.
Representatives of the company noted the work of the British operator Gatherwell, part of the Jumbo Interactive business, which generated revenue of $ 1.5 million over seven months. The provider was able to reduce the costs of rent and marketing campaigns by increasing administrative costs and cost of sales. It is known that the company’s profit before tax was $ 37.4 million, while at the end of the last financial year it was slightly higher and amounted to $ 38.2 million. The total profit for the current year was 25.2 million, which is 4.6% less than in 2019. Jumbo Interactive contributed $ 11.5 million in tax payments during the year.
Mike Veverka said that innovations improve the quality of customer service, in connection with which lotteries will be in demand in the future. The expert also clarified that Jumbo is now signing an agreement with the next Australian lottery operator Tabcor. At the same time, according to representatives of the provider, the US market is now being considered as the most profitable.
