China Vanguard Group Ltd said it has obtained the operating rights to provide self-service lottery terminals for the Hebei Sports Lottery Administration Centre. China Vanguard is a Hong Kong-listed company providing lottery-related services to the mainland China market.
The new order is for the Sports Lottery in Hebei province, and includes a sales distribution system. China Vanguard will also install the system “within self-operated and franchise stores,” it said in a filing on Monday.
The Hebei Sports Lottery Administration Centre will pay China Vanguard an undisclosed percentage of total sales generated.
Lottery sales in mainland China reached RMB178.41 billion (US$28.74 billion) in the first six months of the year, up 19.2 percent from a year before, according to official data.
China Vanguard’s lottery-related business covers 18 provinces and regions in mainland China, the company said. “The board is encouraged by the latest progress of the lottery business,” it added.
Earlier this month, the firm said it had secured lottery related deals in Chongqing city and Shandong province.
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Jul 19, 2018
"If the [Macau casino] concessions are put up for bid, there will also be a lot of giant Chinese companies, some having nothing to do with gaming, which would like to take over these enormously successful casinos”
Professor emeritus at Whittier Law School in California, in the United States, and a visiting professor at University of Macau