Jumbo Interactive Limited (ASX: JIN) (Company or Jumbo) is pleased to announce that the Gambling Commission (GC) has approved and issued a remote gambling software operating licence to Jumbo. This enables Jumbo to supply its proprietary Software-as-a-Service (SaaS) online platform to GC-licensed operators, which in-turn provide gambling and lottery services to consumers in Great Britain. The software operating licence is in addition to the external lottery manager operating licences (remote and non-remote) already held through Jumbo’s wholly owned UK subsidiary Gatherwell.
“We are delighted to achieve this international expansion milestone which, together with our local subsidiary Gatherwell, will drive our growth strategy in the UK charities market” said Mr Mike Veverka, CEO and Executive Director.
“This is an important step in Jumbo expanding its footprint in the UK following the great work carried out by the Gatherwell team to date”, he said.
Securing this licence empowers Jumbo to execute its dual offering in the UK market consisting of (1) a pure play SaaS solution; and (2) a managed charities solution operated by Gatherwell. The new licence also provides immediate access to an increased addressable market in the UK as it supports and powers lotteries of any size or level of sophistication.
There are 168,168 registered charities in England and Wales with total revenue of ~₤77.404 billion as at 30 September 20181 from various sources such as grants, donations, lotteries and other fundraising activities.
Jumbo’s immediate addressable market is Society Lotteries (Large Society and Small Society) and Local Authority Lotteries with latest provisional lottery sales for the 12- month period to September 2020 of £775.62 million (excluding Small Society Lotteries)
2. This announcement was authorised for release by the CEO and Executive Director, Mike Veverka.
For further information: Media: Mike Veverka, CEO and Executive Director, +61 7 3831 3705 Investors/Analysts: Mike Veverka, CEO and Executive Director, +61 7 3831 3705
About Jumbo Interactive Jumbo is one of Australia’s largest digital lottery retailers through its flagship service, Oz Lotteries www.ozlotteries.com. Jumbo is powered by dual revenue streams as a leading digital retailer of both national and charity lotteries (Reseller - B2C) and developer and supplier of software platforms and provider of lottery services to the lottery industry globally (SaaS – B2B/B2G). We utilise the latest technology to craft an engaging and entertaining experience for customers across a range of digital platforms developed entirely in-house. For more information about Jumbo Interactive, please visit www.jumbointeractive.com.