Gibraltar-based lottery betting operator Lottoland has expanded its presence in Australia with the acquisition of a minor stake in Sydney-listed operator Jumbo Interactive.
In a filing with the Australian Securities Exchange (ASX) Monday, Jumbo confirmed that Lottoland had purchased 3,117,224 shares in the company, equivalent to a 7.07 per cent stake in the business.
At Friday's closing price of AUD$2.44 per share, this values the deal at around $7.6m. Jumbo's shares subsequently hit a new 52-week high [...]
