Jumbo Interactive Announce Four Year Extension of Lotterywest SaaS Agreement
TOOWONG, Qld (September 8, 2023) — Jumbo Interactive Limited (Jumbo) is pleased to confirm that it has successfully extended its ‘Powered by Jumbo’ (PBJ) software license agreement1 with Lotterywest, the state government- owned and operated lottery in Western Australia.
The extension is for a four year term effective from 9 November 2023 and includes a new license fee structure where Jumbo’s SaaS business segment will receive a service fee based on gross ticket sales as follows:
- 0% of gross ticket sales up to $35 million;
- 0% of gross ticket sales greater than $35 million.
In addition, the agreement includes the extension of a jointly funded marketing program.
Jumbo CEO and Founder, Mike Veverka said “I am delighted that Lotterywest has entrusted Jumbo and our PBJ software platform to help optimise returns to the community in Western Australia.
Annual ticket sales have grown from $30 million in FY2021 to $38 million in FY2023, due to improvements in the software platform and marketing efforts. Our teams have worked extremely well together over the past two and half years and we are very excited about the next phase of our growing partnership”.
Lotterywest CEO, Ralph Addis said “Our relationship with Jumbo has proved to be a great way to meet the needs of our customers, by combining the respective strengths of Lotterywest and Jumbo. The success we’re seeing in customer experience and engagement is testament to the excellent teamwork and innovation across our teams, and a great basis for future development.”
Lotterywest contributed $38 million in total ticket sales to Jumbo’s SaaS business segment in FY23.
Authorised for release by the Board of Directors.
For further information contact:
|Investor Relations – Jatin Khosla
+61 428 346 792
|Media – Mike Veverka (CEO & Founder)
+61 7 3831 3705
1 Under the terms of the current Lottery White Label Platform Service Agreement between the Lotteries Commission (trading as Lotterywest), Jumbo and TMS Global Services Pty Ltd (TMS) (a wholly owned subsidiary of Jumbo) dated 12 November 2020, the term is three years with an option to extend for a further three years followed by four years (3+3+4), at the discretion of Lotterywest, and Jumbo’s SaaS business segment receives a 9.5% service fee on gross ticket sales, with the sales channel effective from 21 December 2020. As part of this extension, effective 9 November 2023, the parties have elected to make the extension terms four years and three years respectively (3+4+3) and revise the service fee.
About Jumbo Interactive
Jumbo is a digital lottery specialist, providing our proprietary lottery software platforms and lottery management expertise to the charity and government lottery sectors in Australia and globally. Our mission is to create positive social impact through making lotteries easier and our vision is to become the number one choice in digital lottery and services around the world.
Jumbo was founded by Chief Executive Officer Mike Veverka in 1995 with a single computer. Since then, it has matured into a leading digital lottery retailer and lottery software provider with over 250 employees across Australasia, the United Kingdom (UK) and Canada. In FY23, Jumbo helped raise over $230m for good causes for our charity partners. Jumbo was listed on the ASX in 1999.
SOURCE: Jumbo Interactive.Tags: Lotterywest, Jumbo Interactive