Jumbo Interactive boosted by record Australian sales

Online lottery provider Jumbo Interactive has cited the impact of record ticket sales in Australia as one of the main reasons behind a year-on-year jump in revenue during the six months to December 31, 2014.

Revenue in the half amounted to AUS$14.3 million (€9.8 million/$11.1 million), which is an increase on the AUS$12.3 million recorded in the same period last year and also up on a forecast of AUS$13.3-13.9 million.

Jumbo also achieved record ticket sales in the Australian market during the half, with the total of AUS$66 million some 21% higher than in the same period last year.

Elsewhere, strong sales in December helped lift net profit before tax to AUS$800,000 while net loss after tax came in at a lower-than-expected total of AUS$23,000.

Jumbo was also able to increase the number of customer accounts on its OzLotteries.com website from 1.64 million to 1.82 million over the 12 months to December 31.

Mike Veverka, chief executive officer and founder of Jumbo Interactive, said: “21% growth in total transaction value to a record $66 million clearly demonstrates continuing customer demand and acceptance of Jumbo’s online lottery service.

“Plans have been established for additional revenue streams in the short term from our 1.82 million customer accounts while international markets slowly gain traction.”

The firm also noted that despite having launched its services in Germany in July of last year, progress has been slower than expected due to a number of factors that are currently being addressed.

Veverka added that as a result of this, spending in the country will be cut back to allow time for changes to take effect.

“Jumbo has reduced spending in Germany to allow time for changes to take effect and provide a foundation for a more sustainable operation,” Veverka said.

“The fundamental attractiveness of the German market remains and I am confident that Jumbo can achieve its strategic goal of diversified earnings from multiple jurisdictions.”

source : www.igamingbusiness.com

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