Jumbo Interactive (ASX:JIN) secures first government client

Company News

by Katrina Bullock

A subsidiary of digital lottery retailer, Jumbo Interactive (ASX:JIN) has today signed an agreement with Lotterywest to provide its online software platform and services for up to the next 10 years.

Lotterywest is the Western Australian State Government-owned and operated lottery.

Jumbo will receive a 9.5% service fee for every customer transaction through a white label platform.

The contract is for a 3 year initial term with an option of extension for a further 3 years, followed by an option to extend a further 4 years.

CEO of Jumbo, Mike Veverka says “this is a major achievement for Jumbo securing [its] first government client setting up a solid long-term partnership”.

Shares in Jumbo Interactive (ASX:JIN) are trading 6.17 per cent higher at $13.60.