Luck and the street smile on Jumbo Interactive

Vesna PoljakCompanies editor

Jul 16, 2023 – 4.07pm

Email LinkedIn Twitter Facebook

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Key Points

In May, the price of a Powerball entry went up for the first time since 2018.
Jumbo is headed for major EBITDA growth in 2023-24, helped by repricing.
Larger more frequent jackpots are good for Jumbo, drawing more players.

Lotteries, just like everything else, are getting more expensive. In May, the price of a Powerball entry went up for the first time since 2018.

A record $160 million Powerball jackpot, split between three winners in October last year, had an outsized influence on the performance of two ASX stocks: Lottery Corp, which administers Oz Lotto and Powerball, and digital reseller Jumbo Interactive.

Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom.