Mainland China

Hong Kong-listed Success Universe Group Ltd has disposed all of its shares in Honour Rich, a lottery technology service provider in Mainland China.

The Beijing 2022 Winter Games will prove to be an important point of growth for Malaysia-based Genting Group, says Lim Chee Wah, the former managing director of Genting in an interview with Nikkei Asian Review.

Bitcoin has regularly made the headlines in recent months, its price surging towards the $5,000 mark - four to five times its value at the start of 2017 - predominantly driven by interest in Asia.

 

Bitcoin has regularly made the headlines in recent months, its price surging towards the $5,000 mark - four to five times its value at the start of 2017 - predominantly driven by interest in Asia. It has also emerged as a viable gaming currency, with online operators discovering that users, particularly in Asia’s grey markets, are keen to embrace a currency that is secure and easily deposited and withdrawn.



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China’s central bank has placed a halt on all initial coin offerings (ICO), and has deemed them as illegal fundraising, according to reports.

Two officials previously in charge of China’s state lottery have been stripped of their positions under suspicion of bribery and corruption, reports Reuters.

The Mainland Chinese government has formally laid down new rules on overseas investments, restricting investment in property, hotels, entertainment, sports clubs and film industries.

Lottery service provider AGTech Holdings Ltd, saw a 29.4 percent decline in revenue for the first half of 2017, mainly due to the reduced sales of lottery hardware products.

Lottery supplier MelcoLot is proposing a change to its english name to Loto Interactive Limited, in a move to provide the company with a more “appropriate corporate image.”

The last five years have seen a tumultuous business environment for casino operators in Australasia. Barely five years ago, CFOs of two of the largest concessionaires in Macau were predicting annual revenues in excess of US$100 billion by 2020. After all, they argued, less than five percent of the adults from China had been to Macau, and hence the “true” long-term potential was almost limitless.

The last five years have seen a tumultuous business environment for casino operators in Australasia. Barely five years ago, CFOs of two of the largest concessionaires in Macau were predicting annual revenues in excess of US$100 billion by 2020, driven by the China VIPs. Attracted by China's massive potential many of the region's casino operators placed their focus on the one market. Now that's changing and marketing strategies need to change too. 

 



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Lottery provider MelcoLot reported a narrowed loss of HK$6.3 million for the six month period ended June 30, attributed to a decrease in employee benefits costs.

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