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Aussie Lottery Profits Fall 55 Percent
Thursday August 22,2013 : AUSSIE INTERACTIVE LOTTERY FIRM TAKES A HIT TO PROFITS
Costs of expansion knock profits at Jumbo Interactive
The Brisbane, Australia-based international lottery provider Jumbo Interactive's FY results for 2013 reveal that profits fell 55 percent, mainly due to the company's aggressive expansion strategy into European markets. The firm nevertheless produced a performance ahead of market guidance, reporting:
* TTV at A$109 million (FY-2012: A$100 million
* Revenue at A$25.2 million (FY-2012: A$24.1 million)
* Reported EBITDA of A$6.7 million (FY-2012: A$10.5 million)
* NPAT of A$3 million (FY-2012: A$6.7 million)
* Assets of A$20.5 million (FY-2012: A$18.1 million)
* Customer database up at 1.57 million (2012- 1.38 million)
During 2013 Jumbo continued to pursue international expansion, announcing:
* July 2013 awarded licences in all German States
* June 2013. Agreements signed with major retail chains in USA via Jumbo's joint venture
* March 2013. Expansion into Germany
* November 2012. Expansion into Latin America through deal in Mexico
* November 2012. Move into USA through Joint Venture
* September 2012. Five new lottery products released at the World Lottery Summit in Montréal.
Mike Veverka, CEO and founder of Jumbo Interactive reported:
"2013 was the year when Jumbo transformed from a domestic business into an international operation with significant activities across three continents.
"In 2014, Jumbo will begin earning revenue in Germany, USA and Mexico as well as Australia and we are making the right progress in building the required infrastructure to support these businesses for the benefit of the company and its shareholders over the long term", he said.
"With over $16.9 million in net cash and a strong balance sheet with net assets of $20.5 million, Jumbo is able to comfortably steer these projects into profitability."
Veverka noted that Jumbo continued to support the Tatts Group and the Australian lottery industry through investments in online marketing and product innovation as more and more lottery players choose to use the internet to play Australian lotteries.
He added that the increasing influence of social networking was apparent in both interaction and customer acquisition. "Social media, as well as the increased usage of smartphones and tablet computers, is beginning to make a real impact in customer interaction with Australian lotteries", said Veverka.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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