Australia-based Jumbo Interactive has announced a revenue drop of 8.1 percent during the four months to October 31st, ‘mainly due to the subdued jackpot environment’.
In results released on Friday morning, the group indicated that the large jackpot environment in the first four months of the group’s fiscal was ‘subdued’, with 14 large jackpots of AU$15 million ($10 million) or above, an aggregate division 1 prize value of AU$440 million ($294 million). This is equivalent to an average value per jackpot of AU$31.4 million ($21 million), a 9.4 percent drop. Also, there were only two large jackpots greater than or equal to AU$50 million ($33.4 million) during the period, compared to three in the previous period.
This caused a drop in lottery retailing total transaction value (TTV) of 11.8 percent and a segment revenue drop of 10.3 percent.
‘Despite the unfavorable run of jackpots, player health metrics remain robust, with average TTV per draw for like-for-like jackpots continuing to trend positively for Powerball and stable for OzLotto,’ indicated CEO and founder Mike Veverka.
The results come after Jumbo Interactive posted its ‘most successful’ fiscal year to date, posting over AU$1 billion ($670 million) in annual ticket sales.
The group on Friday reaffirmed its Outlook for the 2025 fiscal year, assuming a ‘return to the historical number of large jackpots’ and a ‘flat/slightly higher lottery retailing revenue margin’ compared to fiscal FY24 of 22.7 percent.
