REXlot in talks to sell scratch card business

China lottery service provider REXlot Holdings says it is currently in talks for the disposal of one of its scratch card lottery businesses.

The company announced it had entered into a non-legally binding letter of intent with the intended purchaser on July 29, 2018, with the aim to immediately begin negotiating the transaction agreements.

The parties have agreed to a 45-day exclusivity period in which the parties will negotiate exclusively with each other.

REXlot Holdings is listed on the Hong Kong Stock Exchange, and is principally engaged in the provision of lottery-related systems, machines and services to the Chinese lottery market.