If you want my opinion - and I stress opinion - here it is. JIN signed an exclusive deal with NSW Lotteries through 2013 - but NSW Lotteries has now been sold to Tatts. Not sure the impact this would have on the agreement. Tatts has it's own online presence. They also have a smartphone presence. You can check them out on their website. You would suspect that, once this agreement ends, the exclusive part of the rights will also end, regardless of whether another licensing agreement is signed.
Secondly, there doesn't seem to be high barriers to entry. If you assume that future growth needs to come from overseas (as Tatts will work towards dominating the Australian marketplace) this software doesn't seem to have a high level of IP. NOr have the restrictions in the USA to online lotteries haven't been lifted.
This is an illiquid stock and there are many risks to continued year-on-year growth, assuming everything stays the same (Australia-centric). For lotteries, they really need a new deal somewhere with protection built in (exclusive online rights or similar).
JIN Price at posting:
32.5¢ Sentiment: Hold Disclosure: Held
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