China lottery services specialist China Vanguard Group Ltd on Tuesday announced it entered into a cooperation agreement with the Shenzhen Sports Lottery Administration Centre for the provision of several services.
The deal was signed earlier this month via a wholly owned subsidiary of the company, China Vanguard said in a filing to the Hong Kong Stock Exchange.
Pursuant to the cooperation agreement, China Vanguard has been authorised to install LED panels and operate advertising services in lottery stores in Shenzhen under the Shenzhen Sports Lottery Administration Centre. The firm will also provide electronic coupon distribution and physical lottery ticket redemption services in those stores – as part of its strategy, it plans to make use of WeChat, a text and voice mobile phone messaging application very popular in mainland China.
The LED display panels will feature lottery-related information from the Shenzhen Sports Lottery Administration Centre; a portion of the screen time will be allocated for revenue generating advertising, China Vanguard stated in Tuesday’s filing.
“The interactive marketing services will contribute to the group’s revenue through revenue share from advertising screen time on the LED display panels and share of marketing service revenue from third-party social media engagement,” the firm said.
No further financial details of the deal with the Shenzhen Sports Lottery Administration Centre were disclosed.
China Vanguard announced earlier this month it recorded an unaudited HKD25.85 million (US$3.3 million) loss for the six months to December 31.
Mainland China’s total sales of official lottery products fell by 3.8 percent in 2015, to RMB367.9 billion (US$55.9 billion), according to data from the country’s Ministry of Finance.
China Vanguard said in its financial results filing earlier this month that it had successfully secured lottery-related operating agreements in 21 Chinese provinces and regions as at the financial year-end 2015, “accessing 65 percent of the People’s Republic of China’s population”.
Jan 23, 2018Fourth-quarter profit at Macau casino operator Wynn Macau Ltd was nearly triple year-on-year, to US$179.23 million, buoyed by good performance at Wynn Palace on Cotai (pictured), the company...
Jan 22, 2018
Jan 22, 2018
Dec 29, 2017It could be 2024 before a casino resort is opened in Japan,...
Dec 27, 2017The year 2017 could prove to have been a turning point in...
Oct 25, 2017The deployment of radio frequency identification (RFID)...
”We expect Goa to quickly become a US$1 billion market as it transitions to land-based casinos (from US$150 million today), which is still just a fraction of India’s total GGR potential of US$10 billion to US$17 billion”
Analyst at Union Gaming Securities Asia