Tatts acquires stake in Jumbo Interactive

Tatts Group Limited has invested in a 15 percent stake in internet lottery business, Jumbo Interactive Limited and extended its long-standing lottery reseller agreement for a further five-years.

In addition, under the terms of the new agreement, Tatts will provide an expanded product portfolio to include the popular “Set for Life” game.

Tatts purchased 6,609,686 newly issued fully paid ordinary shares in Jumbo at $2.37 per share, raising $15.66 million in equity capital. A further 12-month option enables Tatts to acquire a further 3,474,492 ordinary shares, subject to shareholder approvals.

While Tatts has declined to join Jumbo Interactive’s Board of Directors at this time the offer remains for as long as Tatts retains at least a 10 percent shareholding interest in Jumbo.

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