GGRAsia – Sports Lottery gets more China LotSynergy terminals

Sports Lottery gets more China LotSynergy terminals

Jun 25, 2014 Newsdesk Latest News, Rest of Asia, Top of the deck, Trends & Tech

China LotSynergy Holdings Ltd, a technology company serving the regulated lottery business in mainland China, says its unit Guangzhou Lottnal Terminal Co Ltd has won a second order to supply lottery terminals to Guizhou Provincial Sports Lottery Administration Centre in southwest China. Lottnal won the original order in July last year.

“The upgraded KT301 terminal represents a more personalised and user-friendly version with optimisation in the structure and layout made to the original version based on the suggestions and requirements of the customer,” said China LotSynergy in a filing to the Hong Kong Stock Exchange about its latest sales success. It did not state in its filing the value of either order.

The company became an approved provider of lottery terminals for China Sports Lottery Centre last year and has since secured orders from Gansu, Zhejiang and Anhui provinces as well as Guizhou.

China LotSynergy posted a profit of HK$88.6 million (US$11.4 million) in 2013, up 31 percent over the previous year, it said in its annual report. The company recorded a turnover of about HK$743.8 million for the year ended December 31, 2013.

China LotSynergy says that in 2013, total sports lottery sales in Guizhou province recorded a year-on-year growth of “approximately 35 percent, compared to the 20 percent average growth nationwide”.

“As a replacement cycle for lottery terminals is underway for Sports Lottery markets in China, the group will seek to expand its market share in Sports Lottery terminals by capturing opportunities in the provinces,” it added.

Total lottery sales in mainland China increased by 18.3 percent in 2013 to RMB309.3 billion (US$49.6 billion), according to Ministry of Finance data. Sports Lottery sales contributed RMB132.797 billion, a growth of 20.2 percent year-on-year.