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Growth of China’s lottery industry ‘remarkable’: China Ecotourism

China Ecotourism Group Limited has labeled the growth of China’s lottery industry as ‘remarkable’ in recent years, as it secured new sports lottery terminal procurement bids for Shaanxi, Inner Mongolia, and Henan.

‘National lottery ticket sales increased by 13.8 percent and 36.5 percent year-on-year in 2022 and 2023, respectively. Even in the first five months of 2024, the year-on-year growth reached 12.2 percent,’ the group points out in a recent dispatch.

China’s total lottery ticket sales amounted to RMB579.7 billion ($81.64 billion) in 2023, up 36.5 percent year on year, data from the Ministry of Finance showed.

China Ecotourism also underlined that lottery sales have become a powerful driver for the advancement of public welfare causes, with public welfare funds raised from lottery ticket sales directed towards supporting the elderly, the disabled, children, social welfare and the development of mass and competitive sports.

In China, lottery operations are authorized and issued by the state, with the proceeds used as public welfare funds.

China Ecotourism Group, Lottery, China

The comments were included in a release by China Ecotourism, in which it reveals that its subsidiary Guangzhou Lottnal Terminal Company Limited has successively won the bids for the sports lottery terminal procurement projects of Shaanxi Province, Inner Mongolia Autonomous Region, and Henan Provincial Sports Lottery Management Centers.

China Ecotourism Group Ltd is an investment holding company principally engaged in the provision of core technology and operation services for China’s public welfare lotteries, terminal equipment, and gaming products.

In May of this year, the company had already secured significant contracts for sports lottery terminal procurement projects in Guizhou and Guangxi provinces.

‘The group’s lottery business has been steadily developing, riding on the high-quality growth of the industry. The group will continue to deepen its involvement in the sector, constantly exploring new market opportunities and providing advanced products and technologies to serve the growing public welfare needs,’ the dispatch – signed by China Ecotourism Chairman Ling Di – adds.

The group considered that the new contracts cemented Guangzhou Lottnal’s ‘industry-leading position’, as it continues to dominate the number of bids won for sports lottery terminal procurement projects in China in 2024.

Still, in April the Hong Kong Securities regulator initiated a disciplinary action against China Ecotourism Group and seven of its executives, after it criticized the company for making statements to some executives that harmed the rights and interests of investors.

Nelson Moura
Nelson Mourahttp://agbrief.com
Editor and reporter with 10 years of experience in Greater China, namely Taiwan and Macau, in printed and online media, with a focus on finance, gaming, politics, crime, business and social issues.

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