Jumbo Interactive posts FY23 revenue jump

Jumbo Interactive has seen its revenue climb 13.9 per cent to AU$118.7m for FY23.

TTV was up 29.1 per cent to $851.9m, with underlying EBITDA up 6.9 per cent to $58.9.

Underlying NPATA increased 8.5 per cent to $35.3m, while underlying EPSA rose 7.8 per cent to 51.6 cents per share.

Jumbo CEO and Founder Mike Veverka said: “FY23 jackpots were volatile to say the least. The first and third quarters were relatively subdued for ticket sales, while the second quarter was our best ever, underpinned by a record $160m Powerball.

“FY23 represents only the second year in the last decade where lottery ticket sales have declined and in both cases the decline was marginal. When we look back through several years of data, this does happen and inevitably normalises over time.”

Veverka added: “Our player health metrics remain robust, despite the unfavourable profile of jackpots. Lotteries remain a category of spend that continues to prove resilient to economic downturns, including the current environment of higher inflation and interest rates.

“The response to our pricing changes has been positive, supporting our premium price and premium service model. These changes combined with a more normal run of jackpots, continued growth in online penetration and the final step-up in The Lottery Corporation service fee, mean we are well-positioned for FY24 and beyond.”