Australia-based Jumbo Interactive has announced a 10.5 percent drop in revenue from operations in the second half of 2024, totaling AU$66.13 million ($42.34 million).
According to the group’s most recent financial results, group profit after tax also fell, by some 9.3 percent yearly, to AU$19.11 million ($12.23 million).
The group notes that its Lottery Retailing segment continued to be the largest contributor to Group revenue and profits, however the group noted that the half-year period ‘was characterized by a relatively subdued jackpot environment’.
Lottery retailing total transaction value (TTV) fell by 15.3 percent yearly, while revenue from the segment was down by 12.7 percent.
‘While the financial results remain subject to the volatility of jackpots in the short term, over the long term, lotteries have delivered consistent growth and have proven to be highly resilient to economic downturns and cycles,’ notes the group.
Jumbo furthered that ‘digital penetration has steadily increased over time and Jumbo remains well placed to capitalize on this trend’.
Online ticket sales of lottery tickets accounted for 40.4 percent of overall Australian lottery sales in the period.
