International Update
Jumbo Interactive Limited (ASX:JIN) today provided an update on its International Managed Services and Software-as-a-Service (SaaS) operating segments.
Managed Services On 26 August 2021, Jumbo Interactive announced the conditional acquisition of Stride Management Inc (Stride) in Canada for a cash consideration of A$11.7 million1 (C$11.0 million), subject to Alberta and Saskatchewan Gaming Regulators’ approval.
Regulatory approval was originally expected to occur in late calendar year 2021.
Following finalisation and submission of the relevant documentation for the change of control application for Stride and discussions with the Alberta Gaming, Liquor and Cannabis (AGLC) and Saskatchewan Liquor and Gaming Authority (SGLA), we now anticipate all regulatory approvals will be received during Q4 FY2022.
The delay is primarily due to the extensive application and review process of both the AGLC and SGLA.
Jumbo Interactive CEO and Founder Mike Veverka said “We are confident of obtaining the relevant regulatory approvals by the end of FY22 and remain supportive of the rigorous approval process and high-levels of scrutiny by the regulators, as this demonstrates the very high standards of integrity participants in the lottery industry need to adhere to.”
SaaS Jumbo Interactive is pleased to announce that its first UK SaaS client, St Helena Hospice successfully went live with its first lottery in late November 2021. The transition to the new Powered by Jumbo (PBJ) platform was successfully completed between weekly draws with no disruption to the frequency of draws. St Helena Hospice operates two weekly lotteries – Make A Smile and Your Hospice Lottery. Make A Smile has successfully transitioned to the PBJ platform with Your Hospice Lottery set to follow in early 2022.
The PBJ platform will enable St Helena to improve its efficiency of its lottery products and automate many of the operational tasks required to run a lottery, such as communicating with players, managing payments, drawing winners, paying prizes and reporting.
St Helena Hospice Lottery Manager Gemma Zweck said “Our lottery draws have been crucial in helping us generate sustainable funds over the last 20 years, giving donors a fun and exciting way to support St Helena, as well as other hospices and local charities, with the incentive to win cash prizes. Jumbo Interactive’s software platform now gives us a chance to improve our player experience, reduce the time we spend on lottery management and allow us to open up our lotteries to more hospices and charities and ultimately help them boost their income.”
Jumbo Interactive CEO and Founder Mike Veverka said “I am delighted to see our first UK SaaS client go live and look forward to working closely with the St Helena team to ensure we maximise the potential of our software platform and help sustainably grow income for the benefit of the community. This is also a significant milestone for Jumbo as we demonstrate the versatility of our platform by adapting it to a new market and as we seek to build our UK business.” -
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Authorised for release by the Board of Directors.
For further information contact: Investor Relations – Jatin Khosla +61 428 346 792 This email address is being protected from spambots. You need JavaScript enabled to view it.
Media – Mike Veverka +61 7 3831 3705 This email address is being protected from spambots. You need JavaScript enabled to view it.
About Jumbo Interactive Jumbo is Australia’s leading dedicated digital lottery company, making lotteries easier by offering its proprietary lottery software platform and lottery management expertise to the government and charity lottery sectors in Australia and globally, and by retailing lottery tickets in Australia and the South Pacific via ozlotteries.com. Jumbo was founded in Brisbane in 1995, listed on the ASX in 1999, and has ~160 employees creating engaging and entertaining lottery experiences for its global player base. About Stride Management Inc Stride was founded in 1997 in Calgary, Alberta, and has been passionately working with charitable organisations for over 20 years. The business employs a multi-disciplinary team of approximately 30 employees and has recently embarked on providing a full-service offer to organisations seeking to fundraise via a fully managed raffle product. Stride forecast to generate ~A$122 million1 (C$115 million) in Total Transaction Value, ~A$6.5 million1 (C$6.1 million) in service revenue and ~A$2.5 million1 (C$2.3 million) in Net Profit Before Tax (NBPT) in the year ended 30 September 2021. About St Helena Hospice St Helena Hospice is an independent charity based in North East Essex. It helps those in the community facing incurable illness and bereavement, supporting them, their families, friends and carers. With services provided free of charge, two thirds of the funding it needs are raised by the local community. Crucial to this are its lotteries, Make A Smile and Your Hospice Lottery, which raise valuable regular income to run St Helena, as well as 17 other hospices and 14 charities across the country. St Helena Hospice’s lotteries raised over £3 million for its charitable causes with approximately £5 million in total lottery ticket sales in the last financial year. Make A Smile ticket sales comprise approximately 25% of total ticket sales. 1 Based on exchange rate of $C0.94 = A$1.00 (Refer to ASX released on 26 August 202