Jumbo Interactive CFO Jatin Khosla to Step Down After Record Revenue Year

Jumbo Interactive Limited, the Australian-based lottery and software provider, has announced a significant change to its executive leadership team. Jatin Khosla, who has served as the Chief Financial Officer, is stepping down from his role to pursue a new career opportunity. Khosla's departure marks the end of a transformative era for the company, during which it evolved from a domestic lottery retailer into a diversified international gaming group.

To ensure operational continuity, Khosla will remain with the company for a temporary transition period, working alongside the existing finance leadership team. The company’s founder and CEO, Mike Veverka, expressed his gratitude for Khosla’s contributions, particularly in strengthening the group’s financial and capital market capabilities. The search for a new CFO has already begun, as the company looks to maintain its momentum following a period of record-breaking financial results and strategic acquisitions.

Numbers and facts

The financial results for the fiscal year ending June 30, 2026, underscore the strong position Khosla leaves behind. Jumbo Interactive reported a 33.2% increase in revenue, reaching AU$193.6 million. Underlying EBITDA also saw significant growth, rising 24.8% to AU$85.2 million. A major driver of this performance was the company's expansion into international prize draw markets. The acquisition of Dream Giveaway in the United States, completed in October 2025 for AU$55.4 million, proved to be a strategic win.

In addition to the U.S. operations, the UK-based Dream Car Giveaways also contributed to the bottom line. Together, these international B2C segments generated an underlying EBITDA of AU$21.8 million in FY26. Despite the robust revenue and EBITDA growth, statutory profit after tax saw a decrease, falling to AU$34.6 million from AU$40.2 million in the previous year. Looking ahead to FY27, the company has set an ambitious target for international underlying EBITDA between AU$36 million and AU$40 million.

"Jatin has made a significant contribution to Jumbo over the past five years and has been a valued member of our leadership team. He has transformed finance and strengthened the Group’s financial, capital markets and investor relations capabilities." - Mike Veverka, Managing Director and CEO of Jumbo Interactive

Background

Jatin Khosla joined Jumbo Interactive in May 2021 as the Head of Investor Relations. He stepped into the CFO role on an interim basis in October 2023 before being formally appointed to the position. Throughout his five-year tenure, he played a pivotal role in the group’s M&A activity and the continued evolution of its business model. This included the shift toward Managed Services and Software-as-a-Service (SaaS) offerings, alongside its traditional lottery retailing. The recent resignation of a company secretary in August further suggests a period of broader organizational renewal at the top level.

Why it matters for German players

While Jumbo Interactive primarily operates in Australia, the UK, and the USA, its corporate shifts reflect the high-stakes nature of the global gambling industry. For players in Germany, this news serves as a reminder of the importance of regulation. The German market is strictly governed by the State Treaty on Gambling 2021 (GlüStV 2021), which mandates that all legal operators must be listed on the GGL whitelist. Companies like Jumbo, which focus on international prize draws, operate under different legal frameworks than the licensed virtual slot and poker providers in Germany.

German players benefit from specific protections such as the AU$1,000 monthly deposit limit and the 1 Euro per spin limit on slots. These measures, enforced by the GGL through systems like LUGAS and OASIS, are designed to prevent problem gambling. While international companies like Jumbo expand rapidly in less restrictive markets, German law remains focused on player safety and strict oversight. Choosing a GGL-licensed provider ensures that these legal standards are met, regardless of global market trends.

What it means for GGL-licensed casinos

For GGL-licensed casinos, the success of international players like Jumbo Interactive highlights the growing importance of technological innovation and diversification. Jumbo's transition toward SaaS and international prize draws shows that the future of gaming lies in multi-channel strategies. However, for German operators, any new technology or business model must be vetted against the strict local requirements. The financial stability demonstrated by Jumbo’s AU$193.6 million revenue figure proves that compliant growth is possible, but the primary focus for any provider entering or influencing the German sphere remains strict adherence to the GGL’s regulatory framework.