A major Australian digital lottery firm, Jumbo Interactive, witnessed a substantial revenue surge in the latter half of 2022, ending December 31st with AU$52.8 million (roughly US$38.1 million). This signifies a 29% upswing compared to the corresponding period the previous year.
This remarkable financial outcome stemmed from expansion across all crucial indicators, particularly the overall transaction worth (TTV), which escalated by 41% year-over-year, approaching AU$3.28 billion.
Although lottery retail persists as the company’s principal income stream, generating AU$46.7 million, Jumbo’s burgeoning Software-as-a-Service (SaaS) and Managed Services divisions also registered considerable growth.
SaaS and Managed Services revenue hit AU$4 million and AU$2.1 million accordingly, marking year-on-year leaps of approximately 145% and 41%. Notably, SaaS TTV more than doubled within this timeframe.
Jumbo ascribes the rise in its SaaS revenue to the enlargement of its current Australian clientele, alongside the successful implementation of a decade-long contract with Lotterywest for supplying an online platform and associated services.
Intriguingly, the initial six months of 2022 observed 23 Powerball/Oz Lotto top prizes matching or surpassing AU$15 million, contrasted with 15 in the parallel period of 2021. The mean worth of these jackpots also climbed by 11%.
Mike Veverka, Jumbo Interactive’s originator and CEO, conveyed his contentment with the company’s achievements, remarking, “We are highly delighted with the expansion attained across all operational segments in the first half and the favorable momentum throughout the business.”
Lottery sales have experienced remarkable expansion, fueled by enticing prize pools and our commitment to fostering player involvement and repeat participation.
“In Australia, our entire SaaS clientele has transitioned to our platform, marking a significant milestone. This achievement has been a primary catalyst for consistent, natural revenue increases within our software and managed services sector.”