China Vanguard has lottery deal with IT firm
China Vanguard Group Ltd, a Hong Kong-listed provider of equipment and services to mainland China’s sports and welfare lottery industries, says it has entered into a strategic cooperation deal with Tianjin Ihome Information Technology Co Ltd.
Tianjin Ihome, launched in 2009 in the city of Tianjin, a major port in northeast China, develops Interned-based applications.
China Vanguard said it would provide Tianjin Ihome “various lottery business solutions and self-service terminals within the realms of the regulatory framework and fulfilling requirements as set out by Tianjin Ihome”. The parties have also agreed to collaborate in promotional and marketing programmes.
Online sales of mainland China lottery products are currently under a temporary suspension, a move that has hit several companies. In early April, eight Chinese government agencies confirmed a suspension of what they described as “unauthorised online lottery sales services”.
China Vanguard’s Wednesday filing said Tianjin Ihome has sales networks and offices across China, with its products distributed in more than 30 provinces and autonomous regions.
The financial implications of the new arrangements were not mentioned in the filing.
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