Mainland China

China LotSynergy Holdings Ltd.'s second quarter net profit more than tripled to HK$52.5 million ($6.8 million) from HK$15.1 million in the April-June period last year. Revenue rose 24.2 percent to HK$170 million. Gross Chinese video lottery terminal revenues rose 34.6 percent in the first half of the year to 13.73 billion yuan ($2.23 billion), offsetting a decline in LotSynergy's share of those revenues to 1.7 percent from 2 percent last year when maintenance services were taken out of its subsidiary’s national contract with the Welfare Lottery.

500.com, a lottery sales website, plans to raise at least $150 million in an initial public stock offering in the US, unnamed sources told Bloomberg. The 12-year-old site, based in Shenzhen, has more than 15 million registered users. It claims to be the largest online distributor of Sports Lottery tickets and to have been the first Chinese site to provide online sales.

 

 

Sino Strategic International Ltd., which said it has divested its other operations to focus on retail lottery sales in Shanghai, hailed successful cost reductions. The Australian-listed company said that sales have been stable at its 30 sales outlets. It said it had temporarily lost control over the business but had regained control through legal action.

 

Lottnal, a subsidiary of China LotSynergy Holdings Ltd., won a bid to supply lottery terminals to the China Sports Lottery Administration Center of Guizhou province.

“The winning of this bid represents the first sales achievement for the company in the sports lottery [computer ticket game] terminal market in China,” said the company, which has been supplying terminals for the China Welfare Lottery.  

 

Customs officers in the Huanggang district of Shenzhen abutting Hong Kong seized HK$4 million ($515,600) in cash carried by a man returning from Macau who said it represented casino winnings. The man said he was unaware of the requirement to declare foreign currency holdings in excess of  HK$5,000 when crossing the border. The seizure, which occurred in February, was the largest of 141 seizures, involving a total of Rmb 36.3 million ($5.9 mil), made by the customs office in the first half of the year, officials said.

 

 

The Ministry of Public Security said it had detained a suspect wanted by South Korea for allegedly operating an illegal gambling website and turn him over to Korean officials in Beijing. The site is said to have operated between May and November 2010. The suspect, who was not named, was caught trying to sneak into China at the port of Nantong. He allegedly has a long criminal record and is accused of hacking attacks on business rivals.

 

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