AGTech, others position for lottery sales

 

 

China Sports Lottery certified six companies to supply lottery and betting terminals as it prepares to replace its existing 130,000 machines with more advanced models. Those approved include local units of AGTech Holdings Ltd (HK:8279), China LotSynergy (HK:8161) and Intralot Group of Greece. AGTech 2012 results, published earlier this week, show the company’s revenue more than doubled to approximately $29.5 million and gross profit grew by 38.2 percent to approximately $13 million. Lucky Racing, a virtual sports betting game developed through a joint venture with Ladbroke Group, generated total sales of more than $177 million through sales from 1,500 shops, accounting for 1 percent of all national sports lottery sales and 34 percent of total sports lottery sales in Hunan province where it was trialed. AGTech expects to launch a new virtual fixed odds sports betting game in a major province in the near future. The company said it has supplied more than half of the Sports Lottery’s existing machines.

In turn China LotSynergy (HK:8161:CLS) also posted it’s 2012 results earlier this week. CLS said sales for the Sports Lottery’s computer game tickets reached $ 17.7 billion in 2012, up 25 per cent and representing 84 percent of Sports Lottery sales.