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Jumbo signed an agreement with Lotterywest

George Miller

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Jumbo signed an agreement with Lotterywest
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Leading internet online lottery business provider TMS Global Services Pty Ltd, a wholly owned subsidiary of Jumbo Interactive Limited (ASX:JIN) has today signed an Agreement with Lotterywest, the Western Australian State Government-owned and operated lottery, to provide its online software platform and services for up to the next 10 years. This follows on from the binding Term Sheet signed and announced on 29 September 2020.

“I am pleased that the Lotterywest Agreement has now been signed on time and on terms as anticipated”, said Mr Mike Veverka, CEO of Jumbo.

“This is a major achievement for Jumbo securing our first government client setting up a solid long-term partnership and providing strategic opportunities for Jumbo”, he said.

The key terms are as follows:
1. Jumbo will receive a 9.5% service fee for every customer transaction through a white label platform for the provision of the software platform and associated operation, technical and customer support and development services.

2. The term is to be a three-year initial term with an option of extension for a further three years followed by four years (3+3+4). The extension options are at the absolute discretion of Lotterywest.

3. Customer ownership will be transferred to Lotterywest as soon as a customer opts into the new white label platform.

4. Lotterywest will oversee the marketing strategy for players while Jumbo will manage customer support on the white label platform on behalf of Lotterywest. Jumbo will only be able to market to new or existing customers as agreed with Lotterywest.

5. Lotterywest has the option to transition white label players to the Lotterywest website and app 12-months from the date of go-live which is currently scheduled for late December 2020.

The Agreement includes customary termination rights for service arrangements of this type permitting Lotterywest to terminate the agreement immediately if, amongst other things, Jumbo materially breaches its obligations.

This announcement was authorised for release by the CEO and Executive Director, Mike Veverka.

Australia

Jumbo: Lotterywest white-label website operational

George Miller

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Jumbo: Lotterywest white-label website operational
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Jumbo Interactive Limited (Jumbo) is pleased to announce that the Lotterywest white-label website www.oz.lotterywest.com is now live and fully operational, within the timeframe anticipated when Jumbo announced the Lotterywest Agreement to the ASX on 13 November 2020.

Under this Agreement, Jumbo will provide its online software platform and services to Lotterywest for up to the next 10 years, and has agreed to transition its WA customers to Lotterywest. Jumbo has also ceased sales of Tabcorp products to its WA customers from 21 December 2020, consistent with the terms of Jumbo’s 10-year agreements with Tabcorp, first announced on 29 June 2020.

“We’re very pleased to have delivered this project within the scheduled timeframe”, said Mr Mike Veverka, CEO of Jumbo.

“The successful completion was the result of the excellent working relationship between the Lotterywest and Jumbo project teams who were both focused on ensuring an uninterrupted firstclass customer experience”, he said.

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Australia

SQID Enters into Letter of Intent to Acquire 50% of ICON Esports

Niji Narayan

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SQID Enters into Letter of Intent to Acquire 50% of ICON Esports
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SQID Technologies Limited has entered into a letter of intent (LOI) to acquire 50% of ICON Esports Pty Ltd.

SQID has agreed to invest AUD 2,250,000 for a 50% equity interest (on a fully-diluted basis) in ICON. The investment is expected to be used to expand the sales and business development activity and to support growth.

Upon completion of the transaction, SQID intends to integrate its payment platform into the ICON platform forming a single unified solution for payments and marketing campaigns. SQID has an existing solution of APIs and software plugins for mobile applications and upon completion of the transaction, expects a relatively simple integration between the two platforms.

Pursuant to the LOI, in recognition of the management time and cost commitment with respect to the transaction, ICON has granted SQID a period of exclusivity for two months from the date of the LOI. In addition, upon completion of the Transaction, it is expected that two nominees from SQID and two nominees from ICON will comprise the board of directors of ICON.

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Australia

Liquor Licence Approved for Resort at Crown’s Barangaroo Casino

George Miller

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Liquor Licence Approved for Resort at Crown's Barangaroo Casino
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The NSW Independent Liquor & Gaming Authority has approved an interim liquor licence for the resort at Crown’s Barangaroo casino.

ILGA chair Philip Crawford said the Authority is considering a further two liquor licences for other non-gaming areas of the casino, with a final decision expected within the week.

The licence issued today will allow Crown to serve alcohol at the Crown Sydney resort, which includes a number of bar areas. The additional licence applications still to be determined apply to two restaurants at Crown Sydney.

Last month ILGA decided against approving a range of regulatory items related to the casino’s gaming activities prior to the release of the Bergin Inquiry’s findings in February 2021.

At the time, ILGA agreed to work with Crown Resorts to enable opening this month of all non-gaming areas including accommodation, restaurants, bars and entertainment areas.

ILGA’s position on Crown Sydney’s gaming operations has not changed.

The licence issued today has been issued on an interim basis, with an end date of 30 April 2021.

This will enable ILGA to consider any suitability concerns arising from the Bergin Inquiry following the handing down of the report due early next year, before making a further decision regarding an extension to the licence.

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