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.
May 24, 2019Las Vegas Sands Corp is only in the running for a big-city Japan casino licence, said the group’s managing director of global development, George Tanasijevich (pictured), in an interview with...
May 24, 2019
"We like Japan. We like all areas…but it is a matter of what the local government and the local people really want"
Ted Chan Ying Tat
Chief operating officer of Galaxy Entertainment Japan