Australia's Jumbo Interactive slips as Bell Potter trims PT

Jumbo Interactive

17/04/2025 06:14

** Shares of lottery software provider Jumbo Interactive JIN.AX fall 1.7% to A$9.95

** Earlier in the day, stock lost as much as 2.2% to hit its lowest since April 9

** Bell Potter says despite robust Oz Lotto jackpots, aggregate jackpots are down 9% on 2H24, indicating YoY decline in lottery retailing revenue

** Notes that JIN lost meaningful digital share to peer Lottery Corp TLC.AX due to higher cost per click rates, raising questions about whether JIN can regain market share

** Brokerage trims price target to A$11.10 from A$13.20; maintains 'Hold' rating

** JIN down 28.4% YTD

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))