AGTech 15Q1 revenue soars as hardware sales pick up


AGTech Holdings, a provider of lottery services and products in China, posted an 88.5 percent gain in Q1 revenue as sales of its hardware division improved on the back of new products and services.

Revenue was HK$48.5 million ($6.2 million) while gross profit increased by approximately 20.9 percent to HK$14.9 million.

“We expect 2015 to be a year of significant regulatory progress in the China lottery industry,” said chairman and CEO John Sun. “We believe that, following the regulatory evolution of the Chinese lottery industry and relying upon our competitive advantages formed in game development and channel construction, we are well positioned to achieve a significant breakthrough in business development in the near future.”

Chinese authorities are working on a national (as opposed to provincial) internet distribution system and AGTech expects sales of its approved games, Lucky Racing and e-Ball Lottery, to benefit strongly when such a system is introduced

 AGTech is also continuing to pursue international opportunities for its hardware and is in active discussions with a number of potential international customers and/or distributors The group has machines live or on trial in markets such as South Africa, Cyprus, the United Kingdom, Italy, Austria and Canada.

Previous articleMGM Resorts makes capital expenditures of $292 million in 15Q1
Next articleCrown Sydney legally flawed says Echo

Related Articles

AGTech announces end to two virtual sports lottery games

AGTech Holdings has announced that two of its virtual sports lottery games have been terminated, a football-themed virtual sports lottery game e-Ball Lottery in Jiangsu Province and a motor racing-themed virtual sports lottery game “Lucky Racing” in Hunan Province

AGTech gets five more sports lottery contracts

AGTech Holdings said it has won sports lottery procurement contracts for five more Chinese provinces.

AGTech wins lottery terminal procurement bid in several provinces

AGTech Holdings Limited has announced that its wholly-owned subsidiary, Beijing AGTech GOT Technology Co., Ltd has won the sports lottery terminal procurement bidding projects in Anhui, Shanxi, Jilin, Hubei, and Guizhou, according to a company filing.  The procurement of lottery terminals over the first four months of the year had fallen to a near standstill […]

Kiron teams up with AGTech in Asia, Latin America and Africa

Specialist virtual games provider Kiron and lottery and gaming supplier AGTech have agreed on a global collaboration agreement which will include the distribution of the parties’ respective products internationally.  Kiron’s premier virtual games offering, including football and racing, as well as a variety of localized sports and numbers games, will be integrated into AGTech’s brand […]

AGTech deepens cooperation with Alibaba Group

AGTech Holdings has announced that its wholly-owned subsidiary, Beijing GOT Technology, has entered into an agreement with Alibaba China to provide equipment and maintenance services including POS terminals and face recognition payment equipment, which may be applied to offline retail sales as well as lottery sales.

AGTech to supply lottery terminals in Zhejiang and Henan

AGTech Holdings Limited reported to the Hong Kong Stock Exchange on Thursday that one of its wholly-owned subsidiaries had won the lottery terminals procurement tenders to supply lottery terminals to the Sports Lottery Administration Centers in Zhejiang province and Henan province.