Huiyin Household unit to sell Anhui sports lottery products

Sep 15, 2014 Newsdesk Industry Talk, Latest News, Rest of Asia  

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Huiyin Household Appliances (Holdings) Co Ltd, a Hong Kong-listed investment holding company, announced that a wholly owned subsidiary has won a contract to sell sports lottery products in Anhui province.

Jiangsu Huiyin Lottery Network Technology Co Ltd has signed a cooperation agreement with Anhui Provincial Sports Lottery Administration Centre for the agency sales of sports lottery products in the province, Huiyin Household Appliances said in the filing.

Under the agreement, Jiangsu Huiyin Lottery is allowed to sell sport lottery computer tickets and instant lottery tickets, as well as to launch sport match games and high-frequency games.

The Anhui Provincial Sports Lottery Administration Centre shall provide the sales terminal equipment and will pay Jiangsu Huiyin Lottery an undisclosed percentage of total sales generated through the latter’s sales channels. They include 686 points of sales, as well as “mobile Internet and other innovative sales pilot business,” the company said.

The sports lottery agreement is valid for three years and can be renewed after expiry, it added.

Huiyin Household Appliances said in May that it would engage in the lottery sales business in mainland China. Since then, this is the fifth agreement the company has announced whereby it will act as an agent to sell lottery tickets in the mainland market.

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.

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