Jumbo Interactive's (ASX:JIN) UK acquisition reaches earn-out target

Company News

by Anna Napoli

Lotto operator Jumbo Interactive (ASX:JIN) says its UK acquisition of UK lottery provider Gatherwell has exceeded revenue and profit targets to trigger the first earn-out payment of £1,000,000.

A potential second and final earn-out payment of up to £1,000,000 (~A$1,832,0001) (to be settled 100 per cent in cash from that UK escrow account) will be determined after 30 June 2021.

Shares in Jumbo Interactive have dropped 39 per cent in the last twelve months.

Investors are reacting positively to today’s news with shares in Jumbo Interactive (ASX:JIN) up 7.37 per cent to $12.53.