GGRAsia – China LotSynergy announces deal with Shanghai Welfare Lottery

China LotSynergy announces deal with Shanghai Welfare Lottery

Aug 18, 2014 Newsdesk Latest News, Rest of Asia, Top of the deck

China LotSynergy Holdings Ltd announced on Monday that is has won a joint bid to provide new lottery sales and management system to the Shanghai Welfare Lottery. Guangzhou San Huan Yong Xin Technology Co Ltd, a subsidiary of the company, won the bid in partnership with Beijing Bestinfo Cyber Technology Co Ltd.

Hong Kong-listed China LotSynergy is an investment holding company that provides technology and services for lottery systems, terminal equipment and gaming products for the lottery market in mainland China.

“The two parties signed the relevant contract with Shanghai Welfare Lottery Issuance Centre on August 15, 2014,” the company said in a filing.

The companies will provide Shanghai Welfare Lottery Issuance Centre with a lottery sales and management system, as well as betting terminals. The deal sets a revenue sharing system “based on a fixed percentage of Shanghai Welfare Lottery’s total computer generated ticket sales,” China LotSynergy said.

San Huan Yong Xin and Bestinfo jointly provide the computer generated ticket sales system, betting terminals and services for Guangdong Welfare Lottery, which the company describes as China’s largest provincial market in terms of terminal installed base and sales.

Lottery sales in mainland China reached RMB178.41 billion (US$28.74 billion) in the first six months of the year, up 19.2 percent from a year before, show data released on July 15 by the Ministry of Finance.