I misread the announcement and missed this critical bit:
Lotterywesthas the option to transition White Label players from the new Jumbo poweredsite to the original Lotterywest website and app 12 months from the date ofcustomer transfer to the White Label platform (effective from December 2020).
That means that only existing Jumbo clients are moving to a white label app rather than LotteryWest moving their online players to the 'powered by jumbo' white label app. Why would Jumbo agree to this as they are earning ~20% margin on this TTV, and they stand to earn much less and even lose that TTV altogether if LotteryWest manage to convince these player to transition to the LW app.
Could LW have threatened to cancel JIN's ability to sell tickets?
I honestly thought that JIN had managed to secure providing 'powered by jumbo' for the entire online side of LW, but this seems a poor result for JIN based on the above paragraph in the release.
Ann: Term sheet signed with Lotterywest, page-46
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