Hong Kong-listed China Vanguard Group Ltd, a company providing lottery-related services to the mainland China market, has entered into 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.
The two companies “will each share a certain percentage of the revenue generated” from the non-cash payment system, China Vanguard said in a filing to the Hong Kong Stock Exchange on Sunday.
The document added: “A further agreement setting out the details of [the] commercial arrangement will be entered into between the parties in accordance with the progress of the development of the business.”
China Vanguard announced last month a deal with a Shenzhen-based company to design and implement a lottery game interface for lottery sales platforms on so-called smart televisions.
The China Vanguard lottery business covers 18 provinces and regions in mainland China, according to the firm, both for the welfare and sports lotteries.
Market-wide, lottery sales in mainland China are up by 23.9 percent in the seven months to July 31, to RMB215.6 billion (US$35.1 billion), official data show.
Sep 19, 2018Nowadays, millennials, people who were born in the 1980s or...
Aug 16, 2018Food and drink have been heavily marketed as part of Macau...
Jun 27, 2018Macau’s gaming law needs to be amended in order to...
Nov 14, 2018Fitch Ratings Inc says the proposals in Malaysia’s budget for 2019 are likely to have only a “limited impact” to Genting Bhd, the parent of Genting Malaysia Bhd. The latter runs the Resorts...
Nov 14, 2018
Nov 14, 2018
Year-on-year decline in net profit reported by Asian casino operator Bloomberry Resorts in the third quarter