International expansion plan for Jumbo
Australia-based online lottery provider Jumbo Interactive is targeting further international expansion in 2014 after reporting a 5% increase in turnover to A$25.2 million (€17 million/$22.7 million) for the 2013 fiscal year.
Like-for-like earnings before interest, tax, depreciation and amortisation were A$12.2 million, up from A$11.5 million, while the company’s net assets increased from A$18.1 million to A$20.5 million.
The company expanded into the US and Mexico in November 2012 and was awarded licences across Germany last month.
“Looking overseas, development is progressing in Germany, the USA and Mexico,” Jumbo chief executive and executive director Mike Veverka said.
“The US website is live at www.lotteryrewards.com and has begun signing up members. The German and Mexican websites are expected to go live before December at which point they can start earning revenue and we'll be in a position to provide some indicative growth rates.
“Jumbo has most definitely entered these markets at early stages and so I do expect some significant growth.
“We are continuing our push into new jurisdictions via our team that is now spread across three continents. Our goal is to repeat what we have done in Germany, the USA and Mexico into another two or three jurisdictions in 2014.”