GGRAsia – China LotSynergy profit up 13 pct for 2014

China LotSynergy profit up 13 pct for 2014

Mar 17, 2015 Newsdesk Industry Talk, Latest News, Rest of Asia

Hong Kong-listed China LotSynergy Holdings Ltd reported a profit attributable to owners of the company of HKD100 million (US$12.9 million) for full-year 2014, up 12.9 percent over the previous year.

The lottery supplier recorded a turnover of approximately HKD1.03 billion in the period, from HKD743.8 million in 2013, it said in a filing on Monday.

The improvement was “mainly attributable to the sustained growth of the China lottery market in 2014,” the firm added.

Total lottery sales – in mainland China’s welfare and sports lottery combined – reached RMB382.4 billion (US$61.5 billion) in 2014, an increase of 23.6 percent from the previous year, according to official data.

China LotSynergy provides lottery systems, terminal equipment and game products to the Chinese market. The principal businesses of the group cover lottery products ranging from: video lottery terminals (VLT); computer ticket games and high frequency lottery products.

In Monday’s filing, the company said its VLT unit sales – a technology that offers games described as the welfare lottery’s fastest growing consumer product category – reached record highs in 2014. The company says it is the exclusive terminal equipment provider for China Welfare Lottery’s VLT business.

China LotSynergy said the China welfare lottery system’s VLT sales totalled RMB37.75 billion in 2014, “representing year-on-year growth of 30.4 percent, marking the first time that it has reached a 9.9 percent share of total lottery sales.”

The company added that 2015 “will be filled with development opportunities” for the group’s new-type lottery business.

“The group has begun preparing for a strategic rollout in the new-type lottery area with industry leading systems, games and services,” it stated in the latest filing.