The Dots
The Dots
Log in
Join
Join now for free

China's Mobile Lottery Sector Enjoys Faster Growth

  • bscnews casinosite

2024년 최고의 온라인 카지노 사이트 추천 top15를 제공합니다. 이용자들이 믿을 수 있고 안전한 플랫폼을 선택할 수 있도록 돕기 위해, 최고의 카지노사이트 추천, 그리고 더 좋은 사이트를 고르는 방법까지 자세하게 알아보겠습니다.

China's Mobile Lottery Sector Enjoys Faster Growth by bscnews casinosite
Lottery supplier AGTech Holdings Ltd said it believes the Chinese government will begin to regulate the development of online and mobile lottery systems and distribution markets, allowing the industry to grow at a faster pace.

The Hong Kong-listed company, which supplies the regulated lottery market in mainland China, reported sales of HK$53.1 million (W6.8 million) in the three months ended Sept. 30, up 137.1% year-on-year. However, sales costs rose 186% year-on-year to HK$34.6 million, a filing on Wednesday said.

Third-quarter losses from owners widened to HK$49 million from HK$21.5 million a year earlier.

"We continue to shift our core operations from our traditional low-growth business to fully integrated services related to our advanced high-growth gaming technology business," AGTech said.

Total lottery sales in mainland China reached 279.41 billion yuan ($45.6 billion) in the first nine months of the year, official data showed.

The company said its lottery business now covers more than 80% of provinces and municipalities in China.

"Overall, the underlying trend in lottery sales growth in the latest quarter has been somewhat below historical levels (ignoring the once-in-a-four-year effect of the FIFA World Cup)," AGTech said.

"This trend is likely to speed up regulatory progress in the [mainland China] lottery market in terms of approval and rollout of new products and development of new remote distribution channels," it said, adding that it was prepared to respond quickly to changes in government policy. 바카라사이트
The company said it will continue to explore new business opportunities in Macau as well as mainland China.

"The group is currently evaluating potentially exciting acquisition opportunities in China," AGTech said in a filing on Wednesday.

It also added: "The Group will continue to explore business development opportunities in Macau through its relationship with Macau's strategic shareholders."

Tencent Holdings, which operates the most popular online social media platform in mainland China, announced on Nov. 4 that it has completed its subscription with a full investment of 594,034,513 shares of lottery technology company China Rotsynergy Holdings.

Report

bscnews casinosite
Business Development Manager at Lake Austin Spa Resort