Jumbo Interactive Reports Significant Revenue Growth in Second Half of 2022

Giant Interactive, Australia’s leading online lottery provider, witnessed a significant revenue upswing in the second half of 2022. The company generated $52.8 million in Australian currency, equivalent to approximately $38.1 million USD, representing a 29% increase from the corresponding period the previous year.

The Brisbane-headquartered enterprise observed widespread expansion. Their overall transaction value, or TTV, experienced a remarkable 41% surge, reaching $3.28 billion Australian dollars.

Although lottery ticket sales remain their primary source of income, generating $46.7 million Australian dollars over the six months, Jumbo’s newer software as a service (SaaS) and managed services ventures are gaining substantial traction.

Their SaaS and managed services segments brought in $4 million and $2.1 million Australian dollars, respectively. This signifies a considerable year-over-year growth of approximately 145% for SaaS and 41% for managed services. Furthermore, the TTV for SaaS more than doubled compared to the preceding year.

Jumbo attributes the triumph of its SaaS operations to broadening its existing clientele in Australia. They also secured a 10-year agreement with Lotterywest to furnish their online platform and supplementary services, which has been fully operational for the past six months.

It is noteworthy that the initial half of 2022 witnessed a fortunate period in Australia. There were 23 Powerball/Oz Lotto Division 1 victories, each valued at $1.5 million Australian dollars or higher. This contrasts with only 15 wins during the same timeframe in 2021. Moreover, the average value of these jackpots also rose by 11%.

Mike Veverka, the founder and CEO of Jumbo Interactive, conveyed his enthusiasm, stating, “We are thrilled with the Company’s expansion across all operational divisions for the half-year and the favorable momentum throughout the business.”

Our games of chance enterprise is flourishing due to several thrilling grand prizes and our dedication to ensuring player satisfaction and repeat engagement.

Furthermore, we’ve observed substantial expansion in our software and business solutions, especially within the Australian market where our SaaS clientele has successfully transitioned to fully operational status.”