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Jumbo Appoints New CFO as Financial Results Climb

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Sharing its financial results for the six-month period ending December 31, 2023, 1H23, Jumbo Interactive also confirmed Jatin Khosla has begun his new role as chief financial officer.

Revenue for 1H23 reached $73.9m, up 18.4% over the 1H22 figure. Underlying EBITDA was also up 15.5% to $35.1m.

Jumbo CEO and founder Mike Veverka said: “1H23 was a tough comparative period with three $100m+ jackpots including a $160m Powerball. We are very pleased with the solid 1H24 revenue growth in lottery retailing despite slightly lower ticket sales and subdued jackpots. Looking ahead, the second half of FY24 has started extremely well with a record $200m Powerball in February, our best draw to date.

“Despite the final step-up in The Lottery Corporation service fee, disciplined cost management and strong revenue growth resulted in lottery retailing EBITDA margin expansion in the half. Revenue growth from our international subsidiaries was in line with our mid to high single digit growth expectations, with these businesses now representing almost 20 per cent of group revenue.”

Kholsa was announced as the interim CFO last October, but now he officially takes on the role.

Industry Awards

UltraPlay Shortlisted for EGR B2B Awards as White Label Partner

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UltraPlay Shortlisted for EGR B2B Awards as White Label Partner
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UltraPlay, a leading provider of innovative iGaming solutions, proudly announces being shortlisted for the esteemed EGR B2B Awards 2024 in the ‘White Label Partner’ category. This nomination recognizes UltraPlay’s commitment to excellence in the iGaming industry and its role as a key part of ODDS Group, a renowned company known for advancing the frontiers of digital entertainment and gaming technology.

UltraPlay’s White Label Solution offers a comprehensive, turnkey package designed for businesses aiming to quickly enter the iGaming market. This solution provides operators with everything needed to launch, including advanced sports betting and Esports platforms, integrated payment systems, and cryptocurrency technology. UltraPlay manages crucial back-end operations such as licensing and security, allowing clients to focus on brand development and customer engagement. Customizable to specific market needs, this solution accelerates the go-to-market timeline and boosts competitive capability in the fast-evolving online gaming sector.

The EGR B2B Awards are known for highlighting the best in the online gaming service sector. UltraPlay has been acknowledged for its exceptional white label solutions that empower operators to efficiently launch and manage their brands. Mario Ovcharov, CEO of UltraPlay, stated, “This nomination reflects our team’s dedication and the strong relationships we’ve built with our clients. It’s an honor that motivates us to continue innovating and maintaining high industry standards.”

UltraPlay offers comprehensive services including sports betting, Esports, white label, and turnkey solutions, focusing on quality, security, and user experience. As part of ODDS Group, UltraPlay leverages extensive resources and deep industry expertise to enhance its offerings and support its clients globally.

The winners will be announced on June 13, 2024, bringing together industry leaders to celebrate common achievements.

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Industry Awards

Soft2Bet’s Betinia shortlisted in five categories of the EGR Marketing and Innovation Awards

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Soft2Bet’s Betinia shortlisted in five categories of the EGR Marketing and Innovation Awards
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Nominations in five categories of the EGR Marketing and Innovation Awards is further recognition of Soft2Bet’s cutting-edge gamification solutions and innovative approach.

Soft2Bet, a leading provider of iGaming turnkey solutions, is delighted to announce that Betinia, its renowned brand in Denmark and Sweden, has been shortlisted in five categories of the EGR Marketing and Innovation Awards 2024.

The nominations are recognition of the incredible work that has been achieved by the Betinia team in two of Europe’s most competitive and regulated markets.

Betinia’s shortlisting in the following categories:

  • Best Native App,
  • CRM Campaign,
  • Innovation in Sports Betting,
  • Innovation of The Year,
  • Responsible Gambling Marketing Campaign of the Year, demonstrates how it has grown into being one of the most innovative and progressive operators in the industry.

Soft2Bet was recognised in February when its Motivational Engineering Gaming Application (MEGA) gamification solution won the Innovation of the Year at the EGR Nordics Awards and it is delighted to see its achievements gain further recognition with these shortlist nominations.

Oksana Tsyhankova, CMO of Soft2Bet, commented: “Being shortlisted in five categories is a great achievement and huge credit goes to our technical, product and marketing teams. Betinia’s success in two of Europe’s most competitive and regulated markets is also highly satisfying because it showcases our B2C expertise in driving engagement, retention and revenues.”

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Industry Awards

ELA Games has been shortlisted for the 2024 EGR B2B Awards as a “Skill Game Supplier”

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ELA Games has been shortlisted for the 2024 EGR B2B Awards as a “Skill Game Supplier”
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ELA Games, an innovative games studio, has been shortlisted in the prestigious EGR B2B Awards 2024 in the Skill Game Supplier category, for its one-of-a-kind game, Cash Crab This nomination confirms the team’s desire to create unique games that appeal to players worldwide.

The studio’s flagship game, Cash Crab, is a modern take on a popular arcade game, the claw machine. Cash Crab offers a comprehensive gaming experience from remote claw control with high-quality streaming, a variety of game mechanics, and interactive activities with the community. Cash Crab is more than an arcade game; it is an opportunity to bring players together.

Cash Crab presents a maximum win of 1,000 times the bet per round, up to a maximum of €80,000 in prize money. This high winning potential has attracted a large audience of players. The flexibility of the game, offering machines with different bet multipliers and real money bets, attracts players of different backgrounds and interests.

Over the past 12 months, Cash Crab has been hosted on 45 brands, including Campobet, Boomerang, and Playzilla. The studio has also added 11 platforms, operators, and game studios to its list of key partners, such as 1×2 Network, First Look Games, and Octoplay, with new partnerships being made every month.

Cash Crab has shown impressive metrics, with Player Acquisition and Retention growth of 144% since Jan 2023. Revenue Generation has increased by 200% over the same period, and the number of Game Rounds Played has increased by 149% since Jan 2023 at an Average Bet Size of 3 EUR. Thanks to social engagement in the game’s community through leaderboards, chat, emoji reactions, and regular event organization, Cash Crab registers an average of 3,428 tournament participants per month.

Mike Cini, Business Owner of ELA Games, commented on the nomination, “Being shortlisted for the EGR B2B Awards 2024 is a significant recognition of our commitment to innovation and the commercial success of our projects. Our principle is to create only innovative, high-quality games, and this nomination demonstrates it.”

EGR Global, the world’s leading group of publishers and membership networks in the online gambling and games industry, will host the EGR B2B Awards 2024 to be held June 13, 2024, at The Roundhouse, London. The ELA Games team would like to congratulate all the nominees and look forward to the evening of the ceremony.

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