AGTech lands new Chinese sports lottery terminal contracts

23 September 2019

Lottery solutions provider AGTech Holdings has further enhanced its position in the Chinese market by winning two contracts to supply sports lottery terminals in the provinces of Jiangsu and Heilongjiang.

AGTech, which secured the deals through its Beijing AGTech GOT Technology subsidiary, will provide lottery terminals to the sports lottery administration centres of both provinces.

The deals follow on from contract wins in the Guizhou, Anhui and Guangdong provinces, as well as for China's capital Beijing and Tianjin in July. AGTech has this year also secured procurement wins in Hainan and Guangxi this year.

“So far, AGTech GOT has already won many tenders in various provinces, municipalities and autonomous region across China, further reaffirming our hardware division’s continued dedication to and leading position in China’s lottery industry,” AGTech’s chairman and chief executive,  John Sun, said.

“AGTech will continue to enhance product innovation, ensure safety and R&D compliance, and contribute to the overall healthy development of China's lottery market.”

In August, AGTech put a 22.7% year-on-year decline in revenue in the first six months of 2019 primarily down to a HK$16.5m (£1.7m/€1.9m/$2.1m) dip in lottery hardware sales over the period.

Revenue for the six months to June 30, 2019 fell to $47.7m, with revenue from lottery hardware sales down 46.5% to $19.1m.