Connect with us

Australia

Jumbo Interactive Announces FY2020 Results

Published

on

Reading Time: 3 minutes

Australian online lottery retailer Jumbo Interactive has announced its FY2020 results. The company has reported an 8.7% year-on-year growth in revenue and is now targeting growth in markets such as the UK, US and Canada as it aims to increase sales to AU$1bn. Total sales for the 12 months to 30 June amounted to AU$348.6m ($251.0m), with revenue rising from $65.2m to $71.2m.

Its core Australia Lotteries saw revenue increase 6.9% year-on-year to $68.7m, aided by a $260,000 contribution from its burgeoning software-as-a-service business, as well as large jackpots driving customer activity.

In terms of spending for the year, costs of sales were up 5.1% to $5.3m, while administrative expenses also increased 46.5% to $23.6m. However, Jumbo was able to reduce marketing costs by 19.9% to $5.6m, while occupancy expenses were cut by 86.0% to $104,000 for the year.

After taking into account $222,000 in finance costs and $176,000 in fair value movement on financial liabilities, this left Jumbo with a $37.4m profit before tax, down slightly from $38.2m at the end of its 2019 financial year.

Jumbo paid $11.5m in tax during the year, and after also including a $676,000 negative impact from foreign currency translation, this meant comprehensive profit for the year amounted to $25.2m, down 4.6% from $26.4m in 2019. However, in terms of underlying earnings before interest, tax, depreciation and amortisation, this increased by 7.7% to $43.2m.

“The online lottery industry has experienced further growth and this is expected to continue, especially as we broaden the charity lottery tickets we are now selling through our Powered by Jumbo software, which we feel will not only assist our profitability but also the deserving charities we are focusing on. We have often been asked if the Covid-19 pandemic has had an effect on our operation. With the experience of our major shareholder and CEO Mike Veverka and his very skilled staff, we have been able to continue to work both within the office and from the staffs’ respective homes,” David Barwick, chairman of Jumbo Interactive, said.

Veverka said that with online sales of lottery tickets accounting for 28% of Australian sales, the industry “clearly has a lot of growth ahead.”

“Lotteries are perfect for the internet and customers enjoy a top quality experience whether they play on OzLottries.com or another lottery using the Jumbo platform. Continual innovation is driving the customer experience even higher and is ensuring lotteries continue to remain popular into the future.”

Veverka also highlighted Jumbo signing a long-term extension to its reseller agreement with Australian lotteries and gaming operator Tabcorp, saying this will help to support its growth plans moving forward.

“The recent 10-year agreement with Tabcorp is an important milestone as it gives Jumbo certainty and the ability to plan long term. The next 10 years will be exciting as the internet share of ticket sales race up as players, young and old, enjoy the experience of playing online,” he said.

“From humble beginnings with a single computer in 1995, Jumbo has navigated many challenges and is ready for the growth that lies ahead. Our staff and partners over the years deserve enormous credit for this growth due to their efforts and trust in the vision to grow through technology,” he added.

Jumbo’s international lottery advisor Richard Bateson said that the retailer has identified opportunities for its iLottery and iRetailer solutions in the US, as more states move lotteries online.

“The iLottery proposition provides lotteries with an integrated digital lottery channel that is more efficient and effective than its industry competitors. The iRetailer proposition provides lotteries with a standalone digital channel that is self-sufficient and does not require operating cost or marketing budget to be diverted from the lottery’s main operations,” Bateson said.

“Once there is an established foothold in Canada, management believes the model can be exported to other parts of the North American region, using the expertise of the local market in adjacent markets. The international ambition is to drive sustainable businesses in the UK, the US and Canada that will be used as a beachhead in each region to grow into other markets and sectors,” Bateson added.

Continue Reading
Advertisement

Australia

IBIA Joins the Judging Panel for Inaugural RTG Global Awards

Published

on

ibia-joins-the-judging-panel-for-inaugural-rtg-global-awards
Reading Time: 2 minutes

 

The organisers of Regulating the Game have announced the International Betting Integrity Association (IBIA) as a confirmed judge for the inaugural RTG Global Awards, to be presented at the Regulating the Game 2026 Gala Dinner on Tuesday, March 10, 2026, in Sydney.

The RTG Global Awards celebrate excellence in leadership, innovation and impact across community impact, compliance, safer gambling, industry integrity and financial crime risk management. The Awards form part of the sixth edition of Regulating the Game, an international conference committed to enhancing sector integrity, regulatory capability and ethical leadership.

Founded in 2005, IBIA is the leading global voice on integrity for the licensed betting industry. It is a not-for-profit association whose members include many of the world’s largest regulated betting operators, active across six continents. IBIA plays a crucial role in safeguarding sport and the betting industry from corruption, operating a world-leading monitoring and alert platform and collaborating with regulators and sports governing bodies around the world.

Khalid Ali, CEO of IBIA, joins the RTG Global Awards judging panel, bringing deep sector expertise and a steadfast commitment to integrity and responsible betting practices.

He said: “I am honoured to join the judging panel for the RTG Global Awards. At IBIA, we are dedicated to upholding integrity and transparency across the global betting landscape. These Awards spotlight the organisations and individuals working to advance ethical conduct and effective regulation, and we are proud to support that mission.”

Paul Newson, Principal at Vanguard Overwatch and founder of Regulating the Game, welcomed the announcement: “Khalid’s appointment and IBIA’s involvement reflect the global calibre and integrity-centred mission of the Awards. Their leadership in monitoring and protecting sport from betting-related corruption aligns perfectly with our vision to champion excellence and elevate standards across the sector.”

• The RTG Global Awards will feature six categories:

• Leadership Voice – for principled, reform-focused leadership contributing to sector uplift

• Safer Gambling Champion – for operators or organisations demonstrating tangible harm minimisation outcomes

• Compliance Excellence – recognising uplift in AML, risk culture, or regulatory compliance

• RegTech Solution of the Year – celebrating innovative technologies improving sector integrity and compliance

• Community Impact Initiative – for initiatives delivering measurable community benefit

• Emerging Leader – Safer Gambling or Compliance – spotlighting rising talent (under 40) making meaningful contributions.

Key Dates:

• Nominations Open: Tuesday, July 1, 2025

• Nominations Close: Friday, December 12, 2025

• Finalists Announced: Monday, February, 2 2026

• Awards Presented: Tuesday, March 10, 2026 at the Regulating the Game Gala Dinner.

Nominations will open on July 1, 2025, with further details and submission guidelines available at: www.regulatingthegame.com/global-awards-2026.

The post IBIA Joins the Judging Panel for Inaugural RTG Global Awards appeared first on European Gaming Industry News.

Continue Reading

Australia

ACMA: Four Betting Services Breach Gambling Self-Exclusion Rules

Published

on

acma:-four-betting-services-breach-gambling-self-exclusion-rules
Reading Time: 2 minutes

 

The Australian Communications and Media Authority (ACMA) has found four wagering service providers – Buddybet, Ultrabet, VicBet and Topbet – breached rules that protect people who registered with BetStop – the National Self-Exclusion Register (NSER).

An ACMA investigation found Buddybet failed to close wagering accounts for people on the NSER and sent marketing to them. The company has since exited the Australian market.

A separate ACMA investigation found Ultrabet reopened the account of someone at the end of their self-exclusion period and allowed that person to bet with that account. Ultrabet also caused marketing to be sent to another self-excluded person.

Under the NSER rules, once an individual registers with the NSER, wagering service providers must close that person’s account as soon as practicable. Accounts must not be reopened or reinstated once a person ceases to be registered with the NSER.

Instead, people at the end of their self-exclusion period who want to recommence gambling need to make a clear and deliberate choice to do so. Providers must also cease sending self-excluded people any electronic marketing such as emails or texts.

The ACMA has accepted a court-enforceable undertaking from Ultrabet, which commits the company to review its compliance systems and processes and implement improvements.

Following two other separate investigations, online bookmakers VicBet and Topbet have each been issued with a formal warning after the ACMA found they contravened the NSER marketing rules. The ACMA found each company had sent marketing material to a self-excluded person.

Authority member Carolyn Lidgerwood said breaches of the NSER rules can lead to significant harm.

“Wagering providers should know their obligations under the rules and know that we are enforcing them. The rules about account closure must be complied with,” Ms Lidgerwood said.

“People on the NSER have made a conscious effort to exclude themselves from online gambling services. Sending gambling marketing messages to people who are trying to stop gambling is unacceptable. Betting services must have systems in place that respect the decisions of people to self-exclude, or face further consequences.”

The post ACMA: Four Betting Services Breach Gambling Self-Exclusion Rules appeared first on European Gaming Industry News.

Continue Reading

Australia

Regulating the Game 2026 Announces CherryHub and Ebet as RegTech Sponsors

Published

on

regulating-the-game-2026-announces-cherryhub-and-ebet-as-regtech-sponsors
Reading Time: 2 minutes

 

Regulating the Game 2026 has welcomed its first joint sponsors, CherryHub and Ebet, two Australian companies driving transformation across the gaming and hospitality sectors.

Now in its sixth edition, Regulating the Game has cemented its reputation as the premier gambling law and regulation conference. Returning to Sydney in March 2026, the event will again bring together global regulators, industry pioneers and compliance professionals for three dynamic days of policy and sector dialogue, strategic insights and capability building.

The programme will span high-impact keynotes and panel sessions addressing regulatory challenges, financial crime and public policy reform; innovation showcases exploring AI, RegTech and emerging technology; and deep dives into safer gambling, risk management and compliance uplift.

With expert-led masterclasses and the return of Pitch!, now hosted at the iconic Yallamundi Rooms at the Sydney Opera House, Regulating the Game 2026 will “continue to shape the future of not only effective and leading-edge gambling regulation, but also a forward-thinking, innovative, and socially responsible industry,” the organisers noted.

Frank Makryllos, Managing Director and CEO of Ebet, said: “Regulating the Game plays a critical role in fostering the collaboration and thought leadership our industry needs. As suppliers, Ebet and Cherry Hub are committed to equipping venues with practical tools to manage risk, support safer gambling practices, and meet evolving regulatory expectations, including AML/CTF and financial crime compliance.”

Paul Newson, Principal at Vanguard Overwatch and founder of Regulating the Game, said: “CherryHub and Ebet represent the innovation and integrity we seek to champion through Regulating the Game. Their support reflects a strong alignment with our mission to promote evidence-led policy, ethical leadership, and safer gambling outcomes.”

With a refreshed agenda, an expanded Exhibition Showcase, and the return of the Pitch! Challenge, Regulating the Game 2026 is “set to raise the bar once again, fostering critical dialogue, driving collaboration, and advancing not only regulatory excellence but also a vibrant, innovative, and ethically led industry,” the organisers concluded.

The post Regulating the Game 2026 Announces CherryHub and Ebet as RegTech Sponsors appeared first on European Gaming Industry News.

Continue Reading

Trending