GGRAsia – China LotSynergy wins multiple lottery terminal deals

China LotSynergy wins multiple lottery terminal deals

Sep 24, 2015 Newsdesk Industry Talk, Latest News, Rest of Asia

China LotSynergy Holdings Ltd, a provider of technology and services for the mainland China’s lottery market, said its subsidiary Guangzhou Lottnal Terminal Co Ltd has been chosen to supply computer-generated ticket terminals for sports lottery game sales in Heilongjiang and Guangxi provinces.

This was the second time that China LotSynergy’s subsidiary was chosen to supply terminals to Heilongjiang’s sports lottery, and the third time it had been chosen as a supplier in Guangxi province, the firm said in a filing to the Hong Kong Stock Exchange on Wednesday.

It added: “To date, the group has claimed 30 percent market share of this year’s total sports lottery terminal procurement volume nationwide, and retained its top supplier position.”

Mainland China’s total sales in July for the country’s official lottery declined 27.3 percent year-on-year to approximately RMB27.1 billion (US$4.2 billion), according to official data.

Combined lottery sales in the first seven months of this year amounted to RMB214.7 billion, a year-on-year fall of 0.4 percent. Sports lottery sales declined by 3.4 percent to about RMB96.3 billion in the period.

While nationwide lottery sales growth is slowing down this year, sports lottery sales in Guangxi province jumped 80.6 percent year-on-year in the first seven months of 2015 to RMB1.1 billion. Sports lottery sales in Heilongjiang however are down 1.2 percent in the seven months to July 31 compared to the prior-year period.

In August, China LotSynergy reported a net loss of HKD148.1 million (US$19.1 million) for the first half of 2015, compared to a net profit of HKD54.9 million a year earlier. The firm said the loss was mainly due to an impairment of goodwill amounting to approximately HKD95.3 million.