Jumbo Interactive Limited (ASX:JIN) Gatherwell Attains First Earn-Out Achievement

  • November 09, 2020 02:25 PM AEDT
  • Team Kalkine
    Team Kalkine
    admin Team Kalkine
    16957 Posts

    Team Kalkine comprises of experts who understand various markets nuances and are enthusiastic and passionate to provide best possible offerings in the form of insights and stories. The team has rich experience of working across different markets with...

Jumbo Interactive Limited (ASX:JIN) on 9 November 2020, announced that their UK business Gatherwell did exceed the revenue and profit targets to generate their first earn-out payment of AU$1,832,000.

This first earn-out payment earned by the company that JIN acquired in November 2019, will be paid in cash from the escrow funds held in a nominated bank account in the UK. A prospective second and final earn-out payment of up to AU$1,832,000 shall be ascertained post 30 June 2021.

Jumbo is one of Australia’s largest digital lottery retailers through its flagship service, Oz Lotteries.

It should be noted that Gatherwell was founded in 2013 in order to help local communities by raising funds via lotteries. The company is registering excellent outcomes and also recently expanded their activities by launching a multi-cause small society lotteries website www.onelottery.co.uk.

Meanwhile, JIN stock was trading up 7.626% at $12.560 with a market capitalisation of $728.77 million at 02:20 AEDT.


The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK