Jumbo Signs Landmark Lottery Deal in Mexico
Nov 30, 2012
- Signed long-term exclusive agreements with Sorteo Games (“Sorteo”) which holds two national lottery systems (“Lotería Nacional” and “Pronósticos”) and distribution licenses in Mexico
- Exclusive agreement includes rights to sell official “Lotería Nacional” and “Pronósticos” Mexican lotteries in Mexico via internet and mobile.
- Strategic investment of US$2 million in Sorteo Games Inc, plus an option for an additional US$3 million, to assist with the expansion of the business in Latin America.
Leading interactive lottery business, Jumbo Interactive Limited (ASX: JIN) (“Jumbo or “the Company”), is pleased to announce a significant step forward in its plans to expand into high-growth territories, internationally, with the signing of exclusive long-term agreements with US-based Sorteo Games Inc, a leading provider of electronic lottery systems. Additionally, Jumbo is making a strategic investment with the acquisition of 6% of issued share capital in Sorteo Games Inc for US$2 million.
Under the terms of the agreement, Jumbo will integrate its technology with Sorteo Games’ distribution platform and become an official internet and mobile retailer of products from Lotería Nacional and Pronósticos, the two largest lotteries in Mexico with combined sales of over US$1.2 billion.
“With a population of over 110 million people and 40 million on the Internet, there is enormous potential to grow the Mexican lottery market with our Internet lottery software and interactive marketing skills”, said Mr Mike Veverka, CEO of Jumbo Interactive Limited.
“Lotería Nacional is looking forward to working with Sorteo Games in its distribution platform integration with Jumbo to grow lottery sales via the Internet and mobile”, said Mr Mario Ramirez, Commercial Director of Lotería Nacional.