Jumbo Interactive (ASX:JIN) secures first government client
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.
Copyright 2020 – Finance News Network
Source: Finance News Network
