China LotSynergy wins multiple lottery terminal contracts

Dec 05, 2014 Newsdesk Industry Talk, Latest News, Rest of Asia  

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China LotSynergy Holdings Ltd, a provider of technology and services for lottery systems, terminal equipment, gaming products and their operations in mainland China’s lottery market, says it has expanded the supply of sports lottery terminals to three more provinces.

“Guangzhou Lottnal Terminal Co Ltd, a subsidiary of the company, has recently won a bid to supply sports lottery terminals to Inner Mongolia Autonomous Region,” China LotSynergy said in a filing to the Hong Kong Stock Exchange.

“Over the past two months, Lottnal has successively secured orders to supply sports lottery terminals to Heilongjiang province, Qinghai province and Inner Mongolia Autonomous Region,” it added.

Sports lottery ticket sales reached RMB143.9 billion (US$23.4 billion) during the period between January and October, up by 33.2 percent from a year earlier.

China LotSynergy said the lottery markets of Heilongjiang province, Qinghai province and Inner Mongolia Autonomous Region “have undergone rapid development”.

“From January to October of this year, sports lottery sales growth in the three provinces was higher than the industry average growth rate of 33 percent, with growth in Heilongjiang and Qinghai exceeding 60 percent year-on-year,” the firm said.

So far this year, China LotSynergy has secured orders to supply sports lottery terminals to eight provinces and regions in mainland China.

“The sports lottery market in China is developing rapidly, and the group will actively grasp market opportunities and continue to expand its market share, in order to provide quality products and services for the Chinese sports lottery market,” the company said.

New regulations in China for legal lottery products delivered via the Internet and via smartphone are with the country’s Ministry of Finance and could be announced within months, a conference session at Macao Gaming Show heard on November 19.

China LotSynergy posted a net profit of HKD54.9 million (US$7.1 million) for the first half of 2014, up 35.2 percent over the same period last year.

Tencent Holdings Ltd, a firm that controls some of the most popular online social media platforms in mainland China, last month completed a subscription – via a wholly held unit – to 594,034,513 shares of China LotSynergy.

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