Chinese lottery sales continued their recovery into April, though with the novel coronavirus (Covid-19) pandemic not allowing some provinces to resume sales until May, the monthly total was down 35.0% year-on-year.
China’s Welfare and Sports Lottery sales declined 17.5% to CNY422.05bn (£46.39bn/€55.80bn/$60.12bn) in 2019, after the year concluded with a 4.9% year-on-year decline in sales for December, according to figures from the country’s Ministry of Finance.
Beijing GOT Technology, a subsidiary of AGTech, has entered into an agreement with its parent company Alibaba to supply equipment including point-of-sale terminals and facial recognition payment equipment to the the world's largest retailer and e-commerce company.
Lottery platform provider 500.com’s revenues fell 67.6% to RMB9.8m for the third quarter of 2019 as migration to a new website in Sweden and the cessation of sports information services in China had a major impact the business' balance sheet.
AGTech Holdings has further enhanced its position in the Chinese market by securing two contracts to supply sports lottery terminals in the provinces of Jiangsu and Heilongjiang. The lottery solutions provider agreed the deals through its Beijing AGTech GOT Technology subsidiary.
AGTech Holdings has reported a 22.7% year-on-year decline in revenue for the first six months of 2019, which was blamed on a HK$16.5m (£1.7m/€1.9m/$2.1m) decline in lottery hardware sales over the period.
Lottery solutions provider AGTech Holdings has strenghtened its position in the Chinese lottery market by winning contracts to supply sports lottery terminals in three provinces and two municipalities.