Sep 19, 2014 Newsdesk Industry Talk, Latest News  
Hong Kong-listed China Vanguard Group Ltd, a company providing lottery-related services to the mainland China market, announced on Thursday it posted a net profit of HKD14.9 million (US$1.9 million) for the fiscal year ended June 30.
That was a significant improvement compared to a loss of HKD41.6 million a year earlier.
The group’s operating revenue for the 12 months to June 30 increased by 145 percent, to HKD95.8 million, the company said in a filing.
About 86 percent of China Vanguard’s revenue was derived from the lottery-related services business, which increased to HKD82.0 million, up by 110 percent compared to a year earlier.
The growth in lottery-related revenue was partially connected with the company’s engagement in new segments beyond traditional lottery, namely the offering of interactive self-service lottery solutions, China Vanguard said.
China Vanguard on August 31 announced a strategic cooperative agreement with Guangzhou YBDS I.T. Co Ltd, a subsidiary of Yunbo Digital Synergy Group Ltd. The deal will allow China Vanguard’s lottery distribution points to be equipped with Yunbo’s non-cash online and offline payment system.
Mainland China’s lottery sales reached RMB247.2 billion (US$40.3 billion) in the first eight months of 2014, up 24.4 percent year-on-year, official data show.
Apr 22, 2024
Apr 16, 2024
Apr 24, 2024
Apr 24, 2024
Apr 24, 2024
Gaming technology and content provider FBM has launched an online gaming platform in the Philippines, called FBM E-Motion. “FBM E-Motion promises to change the way local players interact with FBM...(Click here for more)
”[Las Vegas Sands] conservatively would like to reduce absolute debt levels at Sands China given debt raised during the pandemic”
Colin Mansfield and Connor Parks
Analysts at CBRE Capital Advisors