Nov 16, 2015 Newsdesk Industry Talk, Latest News, Rest of Asia  
Hong Kong-listed China Vanguard Group Ltd, a company providing services to the mainland China lottery market, posted a net loss attributable to shareholders of HKD7.6 million (US$980,561) for the three months ended September 30. That compares to a profit of HKD3.5 million in the prior-year period, the firm said in a filing on Friday.
China Vanguard reported revenue of HKD17.3 million for the three-month period, down 13 percent from a year earlier. Revenue from its lottery-related business however increased by 13.7 percent year-on-year, the company said.
The firm said other interests related to property “did not make any revenue contributions” during the three months to September 30, “which caused the major decline in revenue”. In the prior-year period, the company reported HKD4.7 million in revenue from the property business.
China Vanguard’s lottery business covered 21 provinces and regions of mainland China as of September 30, according to Friday’s filing.
Mainland China’s total official lottery sales in the first nine months of this year reached RMB271.9 billion (US$42.5 billion), down 2.7 percent year-on-year, according to official data from the country’s Ministry of Finance. China’s welfare lottery sales between January and September fell by 1.0 percent year-on-year to RMB148.9 billion, while sports lottery sales were RMB123 billion, down 4.7 percent.
China Vanguard said its operating expenses increased by 19 percent year-on-year to HKD24.1 million in the July to September period. “The increase in operating expenses over the period was due to the group’s continuous efforts in developing its lottery-related operations,” China Vanguard said.
China Vanguard posted a net profit of HKD19.1 million in the fiscal year ended June 30, up by 28 percent from the prior-year period.
May 25, 2023
May 19, 2023
Jun 02, 2023
Jun 02, 2023
Jun 02, 2023
Genting Singapore Ltd says Lam Yi Young has resigned from his role as deputy chief executive of Resorts World at Sentosa Pte Ltd. The latter firm is an indirect wholly owned subsidiary of Genting...Jun 01, 2023
Alfastreet, a manufacturer of electronic gaming machines,...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
US$8.1 billion
Macau’s casino gross gaming revenue in the five months to May 31