A major Australian lottery corporation, Jumbo Interactive, experienced a substantial 29% revenue surge in the latter half of 2022, reaching AU$52.8 million (US$38.1 million) for the six-month period ending December 31st, 2022.
This remarkable outcome was driven by a 41% rise in overall transaction value (TTV), which climbed to nearly AU$3.28 billion. The lottery vendor’s primary operation of lottery sales remained its top earner, producing AU$46.7 million in revenue.
Jumbo also witnessed notable expansion in its emerging Software-as-a-Service (SaaS) and Managed Services sectors. These divisions contributed AU$4 million and AU$2.1 million correspondingly, demonstrating significant annual increases of 145% and 41%. The SaaS segment, specifically, saw a rapid TTV surge, surpassing 100% growth.
This achievement can be partially credited to broadening its customer base within Australia. Additionally, the firm secured a decade-long agreement with Lotterywest to deliver an online platform and associated services, a collaboration that has been fully functional for half a year.
Further contributing to this upward trend was a spike in high-yield lottery victories. The final six months of 2022 witnessed 23 Powerball/Oz Lotto jackpots matching or exceeding AU$15 million, contrasted with just 15 in the corresponding timeframe in 2021. Not only were there a greater number of jackpots, but their mean value also experienced an 11% uptick.
Mike Veverka, Jumbo Interactive’s originator and CEO, conveyed considerable contentment with the company’s accomplishments, emphasizing the expansion across all operational domains and the overall favorable course of the enterprise.
Ticket revenue is experiencing a surge, fueled by well-timed substantial prize pools and our approach of prioritizing the acquisition of fresh participants while ensuring the satisfaction of our existing player base.
The organic expansion of our software and service offerings is a positive development, and we are pleased to report that all our Australian SaaS customers are now fully operational.”
