Jumbo Interactive
{{Short description|Australian lottery company}}
{{Use dmy dates|date=November 2019}}
{{Infobox company
| name = Jumbo Interactive Limited
| logo = Jumbo Interactive logo.png
| type = Publicly listed entity
| traded_as = ASX: JIN
| predecessor =
| successor =
| founder = Mike Veverka
| defunct =
| fate =
| area_served =
| key_people = Mike Veverka (Founder, CEO and Major Shareholder), David Barwick (Chairman)
| industry = Lotteries
| genre =
| products = Lotteries, Interactive Technology
| services =
| aum =
| owner =
| num_employees =
| parent =
| divisions =
| subsid = Oz lotteries
| homepage = https://www.jumbointeractive.com/
| footnotes =
| caption =
| foundation = 1995
| location_city = Brisbane
| location_country = Australia
| locations =
| revenue = A$24.1 million (FY2014)
| assets =
}}
Jumbo Interactive Limited is an Australian corporation and reseller of lottery games in Australia under agreement with government licensed lottery operator Tatts Group.{{Cite web|url=https://www.fool.com.au/2015/08/24/could-investors-hit-the-jackpot-with-jumbo-interactive-ltd/|title=Could investors hit the jackpot with Jumbo Interactive Ltd?|first=Tim|last=McArthur|date=23 August 2015|website=Motley Fool Australia}} 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).{{Cite web|title=JIN News, Analysis, Announcements & Results {{!}} Jumbo Interactive Limited {{!}} AFR|url=https://www.afr.com/company/asx/jin|access-date=2021-03-08|website=Australian Financial Review|language=en}}
History
Jumbo Interactive was founded by Mike Veverka{{Cite web|title=Mike Veverka Net Worth (2021) – wallmine.com|url=https://au.wallmine.com/asx/jin/officer/2062295/mike-veverka|access-date=2021-03-08|website=au.wallmine.com|language=en-au}} 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{{Cite web|date=1999-12-01|title=Jumbomall to get Nasdaq quote|url=https://www.afr.com/politics/jumbomall-to-get-nasdaq-quote-19991201-k96cm|access-date=2021-03-08|website=Australian Financial Review|language=en}}
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{{Cite web|url=https://www.jumbointeractive.com/news/jumbo-to-acquire-manaccom-1|title=Jumbo to Acquire Manaccom|date=25 June 2007|website=Jumbo Interactive}} 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 2012, Robert Leitz acquired a >5% stake in Jumbo via his fund, iolite Partners, during a period of international expansion challenges. Jumbo’s market capitalization rose from A$50 million in 2012 to A$1.1 billion by mid-2019.{{cite web |title=MOI Global: Point-In-Time Case Study: Jumbo Interactive: |url=https://moiglobal.com/robert-leitz-jumbo-interactive/ |website=MOI Global |date=August 22, 2017 |access-date=May 9, 2025}}
In May 2017 Tatts Group invested $15.6 million in Jumbo, and acquired a 15% stake.{{Cite web|title=Tatts Acquires 15% Stake in Jumbo & Extends Agreements|publisher=The Drop|url=https://the-drop.com.au/tatts-acquires-15-stake-in-jumbo-extends-agreements/|access-date=2021-03-08|language=en-US}}
In November 2019, Jumbo acquired the UK lottery manager Gatherwell Limited, which creates, launches and manages lottery systems.{{Cite web|title=Australia's Jumbo buying UK lottery manager Gatherwell for £5M|url=https://www.spglobal.com/marketintelligence/en/news-insights/trending/N8LYUwkN-WbxDaHxlk6qbg2|access-date=2021-03-08|website=www.spglobal.com|language=en-us}}
In November 2020, Jumbo signed an agreement with Lotterywest to provide its online software platform and services for up to the next 10 years.{{Cite web|last=Miller|first=George|date=2020-11-16|title=Jumbo signed an agreement with Lotterywest|url=https://europeangaming.eu/portal/latest-news/2020/11/16/81550/jumbo-signed-an-agreement-with-lotterywest/|access-date=2021-03-08|website=European Gaming Industry News|language=en-US}}
In November 2022, it was announced Jumbo had completed the acquisition of the UK-based external lottery manager and digital payments business, StarVale Group.{{Cite web |last=Fletcher |first=Robert |date=2022-11-02 |title=Jumbo completes £23m acquisition of payments specialist StarVale |url=https://igamingbusiness.com/strategy/ma/jumbo-completes-23m-acquisition-of-payments-specialist-starvale/ |access-date=2022-11-02 |website=iGB |language=en-US}}
Financial statements
At the end of financial year 2016, Jumbo Interactive's TTV (total transaction value) was $156 million. The company's website Oz lotteries continued its unbroken run customer growth since relaunch in 2005 with its database increasing by 10% even in a period of reduced jackpots.{{cn|date=March 2021}}
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.
In 2019 Jumbo's share price increased by 263% during the first 10 months of the year.{{Cite web|date=October 4, 2019|first=Tom|last=Richardson|title=Why the Jumbo Interactive share price is up 263% in 2019|url=https://www.fool.com.au/2019/10/04/why-the-jumbo-interactive-share-price-is-up-263-in-2019/|access-date=2021-03-08|website=The Motley Fool Australia|language=en-AU}}
By November 2020 the company experienced a significant share price movement during the third quarter of the year on the ASX, rising to highs of AU$14.97 and falling to the lows of AU$10.63.{{Cite web|title=Is Jumbo Interactive Limited (ASX:JIN) Potentially Undervalued?|url=https://finance.yahoo.com/news/jumbo-interactive-limited-asx-jin-022141578.html|access-date=2021-03-08|website=finance.yahoo.com|language=en-US}}
References
{{reflist}}
External links
- [http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=JIN Company Listing ASX]
- [http://afr.com/p/business/technology/jumbo_interactive_back_from_the_euCIUdemy2ngvacKSuLl3H?hl "Jumbo Interactive back from the dead", Australian Financial Review]
- [http://www.asiapacific-lotteries.com/ Asia Pacific Lottery Association]
- [http://www.world-lotteries.org World Lottery Association]
{{S&P/ASX 200}}
Category:Technology companies of Australia
Category:Companies listed on the Australian Securities Exchange