Daily news

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    Chinese lottery sales fell 41.7% year-on-year in the first half of 2020, after the market suffered significant disruption from the novel coronavirus (Covid-19) pandemic.

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    AGTech Holdings, through its wholly-owned subsidiary, Beijing AGtech GOT Technology, has won the sports lottery terminal procurement bidding projects in Anhui, Shanxi, Jilin, Hubei, and Guizhou.

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    China’s Sports and Welfare Lotteries saw sales fall 17.7% in May, the smallest year-on-year decline reported by the country’s Ministry of Finance since novel coronavirus (Covid-19) hit.

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    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.

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    A 40-day suspension Chinese lottery sales due to novel coronavirus (Covid-19) meant AGTech’s first quarter revenue declined 32.2% to HKD$13.7m (£1.4m/€1.7m/$1.8m).

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    China’s lottery industry has reported sales of CNY10.51bn for March, a vast improvement on February’s CNY1.3m, though this represents a 69.9% year-on-year decline.

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    China’s Sports and Welfare Lotteries saw sales almost entirely wiped out as a result of the novel coronavirus (Covid-19) outbreak in February, bringing in just CNY1.3m for the month.

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    Chinese lottery sales were down 43.3% year-on-year in January, as the country’s Ministry of Finance noted declines across all major verticals and in several major provinces.

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    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.

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    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.

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    AGTech Holdings has secured two new contracts to provide sports lottery terminals in the Chinese provinces of Zhejiang and Henan.

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    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.

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    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.

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    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.

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    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.

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    Lottery solutions provider AGTech Holdings has won a contract to develop and deploy augmented reality technology for the China Sports Lottery, one of the country’s two major national lotteries.

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    Chinese online sports lottery provider 500.com has reported increased operating losses for 2018, despite experiencing a 73.7% year-on-year rise in revenue.

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    AGTech has won a major sports lottery contract in China’s Jiangsu province