AGTech wins Jilin lottery contract

AGTech Holdings said its GOT unit has won a tender to supply the Jilin Sports Lottery Administration Centre with the latest sports lottery terminals, bolstering its position in the booming China market.

The company didn’t provide financial details of the contract, but said so far this year it has won several terminal tenders taking its share of terminals supplied to China’s sports lottery to 48 percent of the total market. The sports lottery market in China has an installed base of approximately 140,000 terminals.

Earlier this month, AGTech said it was further expanding through the acquisition of an unnamed Chinese lottery equipment and design company for HK$489.5 million ($63.1 million).

Lottery sales in China are booming, gaining 19.2 percent to 178.41 billion yuan ($28.7 billion) in the first half, with welfare lottery sales gaining 15.5 percent to 98.501 billion yuan and sports lottery sales up 24 percent to 79.909 billion yuan.

The World Cup spurred a betting bonanza in China, with Sports Lottery sales up 83 percent in June alone to 19.24 billion yuan.

 

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