JUMBO INTERACTIVE LI

JIN
End-of-day quote. End-of-day quote  - 01/22
14.1AUD +0.28%

Jumbo Interactive : Morgans rates JIN as Add

09/30/2020 | 08:31pm

Jumbo Interactive and Lotterywest have signed an agreement whereby customers from Western Australia will be move to a white label Lotterywest product that will use the Powered by Jumbo platform.

Morgans expects the revenue margin will result in a lower return for Jumbo Interactive but there is scope for it to administer the digital sales, around $120m currently.

The broker also suggested the deal should help in discussions overseas with other lottery operators. Add retained. Target is reduced to $13.89 from $13.91.

Sector: Consumer Services.

Target price is $13.89.Current Price is $12.50. Difference: $1.39 - (brackets indicate current price is over target). If JIN meets the Morgans target it will return approximately 10% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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